ETHYLENE

Ethylene prices recorded a hundred dollar jump in Asia in the week of November 12, 2007. Riding on the positive wave of emerging demand from downstream Polyethylene and MEG producers, prices surged to US$1190/MT. Selling bids from South Korea were quoted higher than US$1,200/MT FOB Korea that the Chinese buyers seek. Buying bids in Taiwan were pegged lower, on news of return of output from Formosa's restarted 900,000 tpa no.2 naphtha cracker.