- Market bearish- Buy-sell gap remains wide



The Asian Ethylene prices were steady at
$920/mt CFR NE Asia and $950/mt CFR SE Asia on April 27, as the market
remains quiet. Limited discussions were heard as market
participants remained uncertain about the market. Unhealthy margins in
downstream markets continue to be a concern for
buyers as poor demand persists. The poor demand is attributed to various
macroeconomic factors, such as high interest rates, volatile upstream prices,
and weaker-than-expected demand recovery from China's reopening. "Buying
activities are very weak right now. There
is still demand, but buying indications
are at levels below current market expectations. The unhealthy margins in downstream markets are restricting
buying sentiments," a trader in southeast Asia said. In the upstream
markets, the benchmark C+F Japan naphtha marker was assessed down $16/mt at
$637.75/mt at...