- Market activity muted March 16- The supply of ethylene remains limited



Asian ethylene prices remained
steady at $960/mt CFR Northeast Asia March 16, and $980/mtFR Southeast Asia
March 16, in a quiet market. The
Asian ethylene market is uncertain due to the emergence of naphtha supplies
from India and the Middle East. As a
supply crunch continues, however, selling sentiment is firm. Ethylene buying has been slowing, with some buyers citing
the unhealthy margins in downstream markets. A Northeast Asian buyer stated that although Asian naphtha
prices are declining, downstream markets still have very unhealthy margins. "Some producers of ethylene derivative products, such
as polyethylene, are even losing money." The benchmark C+F Japan naphtha marker was down $53.75/mt on
day and stood at $615/mt March 16. Investors
continue to be worried by the US banking crisis....