EDC

Escalating feedstock ethylene prices have firmed up EDC prices to US$445/MT in Asia in the week of April 21, 2008. A 5000 ton cargo from Indonesia has been effectively traded at US$445/MT CFR China. Selling intention by most suppliers above US$450/MT CFR China for May delivery, is expected to be met with buyers resistance. Buyers are disinclined to buy at the higher levels, in anticipation of US deep-sea cargoes scheduled to invade the Asian market.