The Asian ethylene market came under pressure last week, with spot prices slipping $20-$35/mt week on week to a one-month low. Market sources said bearish sentiment would likely continue, as deepsea ethylene supplies continue to flow to the region in May.
Asian propylene markets rose on the back of firm downstream demand last week, and may continue to see support this week as spot availability remains tight in South Korea.
Meanwhile, in the Asian butadiene market, tight supply concerns were offset by weak synthetic rubber demand, leading to a stable market last week. BASF-YPC’s 130,000 mt/year butadiene extraction unit in Nanjing, China, began scheduled maintenance last week, tightening supply. In addition, 5,000 mt of South Korean butadiene is moving to the US over H1 May.