PE Cracker Turnaround in South Korea

Apr steam cracker rates to fall to 70%-80% in Asia / Fewer discussions for US-origin cargo

Apr 04, 2022

Apr steam cracker rates to fall to 70%-80% in Asia Fewer discussions for US-origin cargo

In the week leading up to
April 1, the selling sentiment in Asian ethylene markets was mostly bullish.
Participants cited tight supply and operating rate cuts at steam crackers in
the region as reasons for the strong selling sentiment. According
to market sources, April's supply is expected to shrink further because steam
crackers who have reduced operating rates in March are planning to reduce them
further in April. The average operating
rate for March was 80%-90%. This is expected to drop to 70%-80% in many regions
of the northeast and Southeast Asia. Due to
limited supply and tight ship availability, selling indications were high. Many
sellers said they would not accept bids below $1,400-1,430/mt. As H2 April cargo buyers...

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