FEEDSTOCK - ETHYLENE

Ethylene prices in Asia stabilized at last weeks' US$1450/MT in the week of January 28, 2008, as general buying sentiments remained lower than selling offers. A gap of over fifty dollars existed in the ethylene market between selling intentions from S.Korean suppliers and general buying intent in SE Asia region at around US$1350/MT CFR SE Asia. However, subdued buying sentiments in this region did not succeed in dampening the market, as evident from a deal for Iranian cargo was heard done at US$1400/MT CFR SE Asia.