- Unhealthy margins on downstream markets- Market participants are away for APIC 2020



On May 18, despite thin trading, Asian
ethylene prices remained unchanged at $865/mt CIF Northeast Asia and $920/mt
CIF Southeast Asia. The
buying sentiment was negative as buyers were concerned about unhealthy margins
downstream due to the poor demand for products derived from ethylene, such as
monomer styrene. High interest rates,
volatile prices upstream and a slower-than-expected Chinese recovery are some
macroeconomic factors which have affected demand. Some market participants were in India for the Asia
Petrochemical Industry Conference 202023, which took place May 18-19. This
limited trade discussions. The benchmark
C+F Japan Naphtha mark was up $10.25/mt for the day to $587.5/mt by the Asian
close on May 18. The ethylene-naphtha
differential was $277.5/mt. This is above the typical spread for...