FEEDSTOCK - ETHYLENE

Ethylene prices rose to US$1270/MT in Asia in the week of December 24, 2007. In a dual movement in the ethylene markets of Asia, CFR South East Asian market remained soft due to influx of deep sea cargoes from the Middle East, while prices in the Far East region moved up on restricted supplies from South Korean producers. Tight supplies kept selling intentions well sustained at levels above US$1290/MT FOB Korea for February shipment. Though a deal was heard done at CFR China at US$1370/MT, Chinese buyers began to look wary of fresh purchases at higher values.