European Ethylene: Activity is subdued due to a decline
in end-user demand■ August Contract Settlement■ US materials remain available at affordable ratesThe European ethylene market was quiet
during the week ending July 29, as traders waited for the August contract price
settlement. End-user demand was weak, and trading was slow. Sources say that
confirmation of the contract may be forthcoming in the week beginning Aug. 1. Recession worries and inflationary pressures have affected
buying in downstream sectors like polyethylene and vinyl chloride. Due to the availability of spare warehouse space, downstream
PE and PVC stocks were strong. Sellers had to sell materials at lower prices in
order to make room for new products or imports. This increased pricing pressure. Sources said that seasonal pressures also had an impact on
trade throughout the entire ethylene chain. All products...