Asian ethylene started to show signs of rebounding Wednesday as end-users in Southeast Asia returned slowly to the market, sources said.
Last week, the CFR Northeast Asia price benchmark fell $44/mt from Monday to be assessed at $1,096/mt Friday, while the CFR Southeast Asia price fell $60/mt over the same period to $1,081/mt.
Both remained unchanged at this price over Monday and Tuesday this week. But Wednesday, the CFR SEA price rose $18/mt day on day to be assessed at $1,099/mt, while the CFR NEA price again remained flat at $1,096/mt.
Some market sources said end-users in SEA were slowly returning to the market, with some seeking spot cargoes for late July arrival to cover the production shortfall of Shell Chemicals' steam cracker shutdown in August.
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