Asian Ethylene: September sentiment was improving- Asian naphtha - Steam crackers to lower run rates in
August- PrefChem shuts down steam cracker plant to dampen
sentiment in the AsianThe low operating rates of derivative
facilities meant that spot August shipments were still in decline, especially
in the polyethylene, Ethanol, and Styrene monomer segments. This led to bearish sentiment in ethylene markets. Participants stated that ongoing turnarounds at downstream
facilities continued to hinder ethylene demand as derivative demand remained
weak. There was a slight bullishness about
September due to the expectation of further operating rate reductions at Asia's
naphtha-fed steam crackers, which would tighten supplies. The September delivery discussion levels were higher than
August's. Market participants indicated that they expect support from lower
spot availability due to ongoing shutdowns in China, Taiwan, and the...