Ethylene spot prices are stable-to-soft on Wednesday. Discussions are mainly on a FOB basis for September-loading cargoes in northeast Asia.
A regional producer is targeting to sell a 4,000 tonne spot cargo at $1,150-1,200/tonne FOB Japan for any September loading, but has yet to receive bids.
Discussions to sell a 3,000 tonne spot cargo from South Korea are also underway on a floating basis for first-half September loading, market sources said.
No offers emerged, while some end-users in China said they have sufficient term material and do not need to make spot purchases.
A 3,000-5,000 tonne spot cargo was heard offered in southeast Asia at $1,175/tonne CFR SE Asia for arrival in the second half of August, but this could not be immediately confirmed.
Buying ideas from some end-users for the relatively prompt parcel were at the low $1,100s/tonne CFR SE Asia. No deals were heard.
Today in ICIS news:
10-Aug-11 06:09 Taiwan’s Formosa Plastics may restart Mailiao LLDPE unit in early Sep
10-Aug-11 05:37 Asia petrochemical shares rally on US Fed's pledge
10-Aug-11 05:03 Philippines’ Petron offers naphtha for early September
