Ethylene prices in Asia dipped to US$1085/MT in the week of October 29, 2007. Ethylene markets in Asia mellowed down last week under the influence of a supply glut from the Middle East. Bearish market sentiments continue in anticipation of continued supply from the Middle East. Also adding to the supply glut woes will be the return of a few crackers in Asia back online after completion of maintenance turnarounds. Asian ethylene prices are expected to see a further downward correction as supply increases in December.
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