Ethylene prices on Tuesday were assessed unchanged in Asia. Despite gains in crude and naphtha values, prices finished flat on the back of sluggish regional buying trends and an anticipated rise in availability in the weeks ahead.
CFR North East Asia prices of ethylene were assessed a the USD 1350/mt levels while CFR South East Asia prices were assessed at the USD 1380/mt levels.
An ethylene buyer when contacted by a polymerupdate team member said, "the steep tumble last week in naphtha saw margins in parts of Asia for ethylene turn positive. However this did not last as this week naphtha has rebounded and margins for ethylene are again squeezed. Margins for downstream PE makers are also negative and demand for PE at the current time in Asia is subdued."
He added,"the turnaround season will end next month and with it olefin and polyolefin availability in Asia will increase thereby further contributing toward the region's bearish triggers."
In the downstream markets meanwhile, LDPE prices were hammered lower n Asia with CFR Far East Asia prices assessed down at the USD 1650/mt levels, a day on day tumble of USD 20/mt.
