Asian Ethylene: Northeast Asia prices assessed
fall-amid bearishness- Weak margins in downstream markets- Filled inventories further stall
demandThe These deals
were done below the-assessed price level of $890/mt CFR NE Asia at the start of
the-week, highlighting bearishness among market participants.-Unhealthy
downstream margins remain a concern for buyers-due to poor demand for
ethylene-derivative products such as-styrene monomer.-Poor demand has been
attributed to various macroeconomic-factors such as high interest rates,
volatile upstream prices, and-weaker-than-expected demand recovery from China's
reopening.-Most market participants have also filled their-ethylene inventory
requirements for May and June, further-stalling demand.-China's Wanhua Chemical
Group announced May 8 that it has-shut its propylene, ethylene, propylene oxide
and styrene monomer-capacities at its complex in Shandong for a planned
turnaround.-However, some market participants feel that current-turnarounds in
South Korea and China are unlikely...