The rally in Asia’s PE markets has started to fizzle out after robust buying pushed up prices since the beginning of the year. This can be attributed to the decision by the Chinese Central Bank to raiise reserve requirements along with softening crude oil and naphtha feedstock costs, dampened buying interest in China, with some buyers expressing hopes that prices would retreat from their early week highs to more workable levels, as per Chemorbis.
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Monday, January 18, 2010
Is the rally in Asian polyethylene markets fizzling out?
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