- Crackers are available at
reduced rates- Imports are subject to lower vessel
availability





In
the week ended on March 31, European ethylene spot markets saw little
trading activity due to weak derivative demand. Market participants pointed out
low consumption in downstream markets. The spot market was devoid of buyers. Most
were not interested in additional volumes beyond contractual take-ups. Some sources
claimed that they didn't have a longer-term outlook of more than two
weeks. European steam cracker production remained at lower rates to meet weak
demand. Market sources stated that crackers operated
between 70% and 80% of their capacity. Serving contractual obligations was
difficult, as there were limited vessel availability in the CIF market. CIF prices
were supported by tight vessel availability, since buyers would have to pay
higher shipping costs, particularly for deliveries in a short time span.
However, CIF sources expect...