Asian Ethylene: Naphtha lifts ethylene offers despite weak demand / Firm naphtha supports higher ethylene selling indications / Weak downstream demand limits fixed-price buying interest

Asian ethylene selling indications rose alongside naphtha Oct. 30, but market participants remained divided over how much of the increase buyers would accept. Naphtha was indicated at $1,071.50/metric ton in the afternoon, slightly below the morning's $1,072.25/mt but above the previous close of $1,049.25/mt. Domestic East China ethylene indications widened to 9,500-9,800 yuan/mt ex-tank from 9,500-9,700 yuan/mt the previous day. South China indications rose 200 yuan/mt to 9,800 yuan/mt ex-tank. Participants said the firmer domestic Chinese market contrasted with weaker downstream demand elsewhere. For November to early-December cargoes, FOB Korea and CFR Northeast Asia selling indications were heard at $1,280/mt. CFR Northeast Asia tradable indications were heard at $1,230/mt and $1,250/mt. Some participants favored $1,250/mt on stronger naphtha, while others considered it too high in the absence of confirmed fixed-price...