Asian Ethylene Activity Limited on Unchanged Buy-Sell
Indications-  Discussions impeded
by large buy-sell gap-  Floating
base offers seenThe Asian Ethylene market activity was
minimal on Nov. 9, as the buying and selling indicators remained the same. Market participants stated
that the large buy-sell gap continues to hinder discussions. This was due to
weak derivative margins and high operating rates. Feestock costs were also high
and vessel availability limited. Some
traders reported that they were still receiving enquiries for December.
However, buyers are more inclined to accept offers on a floating price basis
than those with a fixed price. CFR
Northeast Asia received floating cargo selling indications, plus $30-40/mt
premium. Selling indications for cargo on
a floating basis were heard in Southeast Asia at CFR Southeast Asia with a
premium of $40-50/mt. The benchmark C+F
Japan naphtha...