Asia Low Demand Tracking crude■ Thai PTT restarts unit after maintenance■ Crude drops to $2.78/b





In the week ended June 1, Asian low-density
ethylene prices fell due to lower demand and uncertain economic outlook. On June 1, ICE Brent crude
oil futures dropped $2.78-3.50/b to $117.12-130.25/b. China's demand was low due to lockdowns in several regions. Market sources also worry about inflationary pressures
within Asia, which could affect PE consumption and reduce spending power. The South Asian general-purpose, low-density grade
polyethylene was listed at $1,550-1,580/mt by the CFR South Asia. Due to lower market indicators, this price is $50-55/mt less
than last week. Sources believe that
markets will stabilize in June, however. Sources
confirmed that PTT Global Chemical (Thailand) has restarted its 300,000.mt/year
low-density polyethylene plant at Map Ta Phut. To allow maintenance, the plant was temporarily shut down
for...