- August Supply is ample- The demand is likely to
remain low





On July 14, the outlook for Asian Ethylene
markets was bearish as weak downstream markets continued their impact on buying
sentiment. According to market participants,
August's supply was plentiful as there was still more demand from Northeast
Asia. Market sources also reported that some Middle
East origin materials were available. With a drop
in operating rates downstream, the buying appetite was still weak. Few buyers
were actively looking for August spot cargoes. China's
largest producer Sinopec raised its offers by Yuan 200-250/mt, to Yuan 7,500-7,700/mt
exp-tank. According to market sources, spot availability
was limited as the company had contracted all of its cargoes. The
sentiment in China's domestic markets was low. Market participants pointed to
falling demand in key derivative spot markets like polyethylene,...