ETHYLENE

Ethylene prices dipped by almost twenty dollars to US$1400/MT on depressed demand from end users in the week of February 18, 2008. Ethylene prices were under pressure in Asia on restrained demand from downstream markets coupled with an influx of deep-sea cargoes into SE Asia from Iran. It is speculated that cargo from Iran with February loading terms could have been sold for US$1300/MT CFR SE Asia level. No offers were heard from producers in South Korea, while bids from end-users were heard at lows of US$1200/MT CFR Indonesia level.