Conclusion

• Supply likely to increase in 1999

  • Imports could remain strong
  • Production Likely to Be Higher than 1998

• Strong petrochemical demand could help remove excess, but…

• Also need cold weather to bring stock levels back to normal

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• As indicated already, we can expect little help from supply in working off the excess stocks.

• We will need some cold weather this winter to work off the excess, even with strong petrochemical demand.