Weaker buying sentiments in Asia led ethylene prices to drop by almost twenty five dollars from last week's price to US$1285/MT in the week of August 27, 2007. This dip in ethylene price was despite short supplies due to an expected maintenance shutdown at Formosa's No.1 naphtha cracker. Ethylene prices weakened by the lack of buying interest coupled with the strain of intensified supply from the Middle East region. Large quantity of ethylene from the Middle East region has become abundantly available due to glitches at downstream plants.
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