Asian
Ethylene Prices Rise amid Firmer Sell Sentiment-
Better-than-expected tender prices boosts sell sentiment-
Asia's steam crackers are considering increasing run ratesThe
firmer selling sentiment led to prices rising in Asian Ethylene markets during
the week ending February 24th. A Taiwanese producer issued a sell tender
for 7,000-8,000 mt March-loading Ethylene on February 23 at $960/mt FOB
Taiwan. According to market sources, the price was much higher than
initial targets of $900/mt FOB Taiwan. This helped to boost selling
sentiment. The selling ideas heard were in the $980-$1,060/mt CFR
Northeast Asia and $1,000-1,020/mt CFR Southeast Asia ranges. Selling ideas on
FOB Korea were raised from $950 to $1,000/mt. Many buyers were cautious as
downstream production margins continued to be weak. Some said they were still
losing money due to weaker-than-expected demand recovery. Some naphtha-fed
steam-crackers in...