EDC

Supported by robust ethylene prices, EDC prices rose to US$435/MT in Asia in the week of January 21, 2008. Buying intention from China remain pegged at US$425/MT levels, while deep-sea cargoes ex-Brazil have bee heard at US$440/MT mt CFR Asia, and from Asia at US$465/MT CFR Asia. Despite current low buying intentions, sellers are less inclined to dispose cargoes at these low prices, and prefer to wait for better price realization on improved demand anticipated next month.