- Weak fundamentals across value chain- Pessimistic market sentiment
continues





Activity in the European ethylene market
was further muted in the week to June 23 as market participants attended the
165th European Petrochemical Luncheon in Rotterdam over June 21-23. Discussions at the conference were centered on
the weak fundamentals of limited demand and oversupply that have dominated the
market throughout H1 2023, contrasted against some optimism from players at the
previous conference in March. European producers have continued to
attempt to curtail supply, with crackers heard running at 60%-70%. Despite
this, the market remained oversupplied due to limited buying interest. Another
source said that integrated producers were better off in the current market
environment as they are able to control both upstream and downstream levels. Spot
activity was muted in the last week across both...