- Aug. inquiries up, but not enough buying indications- PTTGC issues buy tender for
3,000-3,500 mt ethylene





The sentiment in Asian Ethylene markets was
bearish, as participants struggled with low derivative margins. Buyers cited shrinking downstream margins as the
reason for falling buying indications. Some
sellers reported an increase in inquiries regarding the August delivery of
ethylene, but they said that buying indications were too low for them to
consider considering the high freight rates. Thin
ethylene-naphtha spreads continued to pressure producers. Operating rate cuts
at Asia's naphtha-fed steam crackers did little to support the markets for
ethylene. The tender news is that PTTGC Thailand issued a
tender for 3,000-3500 mt ethylene for delivery between Aug. 5-15. PTTGC issued
its last buy tender for ethylene on June 22. According
to market sources, spot ethylene supplies in...