ETHYLENE

Ethylene prices in Asia moved up marginally to US$1200/MT in the week of March 24, 2008, as activities remained watered down. Most of the buyers from China have refrained from buying as they are well stocked with inventory for next month, causing a lull in market movement. Intentions of buyers from the South East linger as low as US$1100/MT CFR for April shipment, while selling intentions have been pegged at US$1150/MT CFR. On the supply side, cargoes from Iran are no longer being offered towards Asia. Deals were heard concluded at US$1200/MT CFR in the Far East region.