There has been rise in supply of Ethylene from Middle East. Earlier there was strong pressure in the supply of Ethylene specifically in Europe as the major Ethylene manufacturing units were either shut down or were under maintenance. The supply has now started from Middle East to Europe.
According to market sources, BP refinery has been started and 3 cracker olefins has been started in Gelsenkirchen, Germany and is likely attain full capacity production very soon.
FOB Korea values on Friday were assessed around USD 1300-1320, lowered by USD90/MTS compared to last week’s closing prices.
