ETHYLENE

Ethylene prices in Asia continued to rise to US$1350/MT in the week of April 21, 2008 on the back of restricted supplies from key producers. Supplies have been hit as several crackers continue to operate at reduced running rates due to the record high prices that feedstock naphtha continue to set. No deals were concluded for material for May shipment that was quoted at US$1400/MT FOB Korea by suppliers from South Korea. Buyers from China continue to peg buying interest at US$1300/MT CFR China levels.

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