ETHYLENE

Steady and unrelenting demand for May shipment coupled with restricted supply has kept ethylene prices in Asia at a high of US$1260/MT in the week of April 6, 2008. Supply continues to be restricted in Asia as many producers are running their crackers at reduced rates due to poor margins. South Korean producers managed to conclude deals at US$1280-1300/MT FOB Korea. Enthused by this, they have quoted fresh offers at more than US$1300/MT for H1 May shipment.