Asian ethylene was quiet

Asian ethylene was quiet on Friday, amid thin trade. Market sources saidspot demand may emerge in China post holidays for ethylene oxide following therecent EO capacity expansion and also from healthy styrene margins. Howeverthe margins from most of the other major downstream derivatives, suchmonoethylene glycol and polyethylene have been hovering at negative levels,S&P Global CSG data showed. As such, some market sources said the integrated producers would start considering selling spot ethylene cargoes, reducing their downstream plant runs amid positive ethylene margins.

RATIONALE:

Spot prices were assessed unchanged day on day at $1,085/mt CFR Northeast Asia and $985/mt CFR Southeast Asia Friday. No fresh bids and offers were heard in the market amid quiet trading during the Lunar New Year holidays.

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