NE Asia C2 falls to 18-week low in virus fallout; producers cut ops

摘要

SINGAPORE (ICIS)--Northeast Asia's ethylene (C2) import prices are down to an 18-week low as the coronavirus outbreak in China continues to constrain downstream operations in the country. The slump in crude and naphtha prices added to the bearish sentiment. While restrictions on road traffic have been largely lifted by the local governments in China, sales of ethylene derivatives in the domestic market remain sluggish. Companies that offtake ethylene derivatives are progressively restarting their plants and utilisation rates could normalise in mid- to second half March, at the earliest.