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Intl oil price rise fails to affect local propylene market
21
Feb '08
New York oil price experienced a sharp rise on Tuesday, once again breaking through the mark of US $100 per barrel. However, this boost could not stimulate sentiment of propylene market, and China's domestic propylene market mainly remained stable.

Mainstream price in Shandong market stabilized at 10200-10250 yuan per ton, and demand of propylene products saw a decreasing trend, although shipments from manufacturers were as usual.

Mainstream price in Hebei market was steady at 10,000-10,100 yuan per ton, sales were in stability.

The Northeast market price stood at 9,700-10,700 yuan per ton with tight supply, and were mainly delivered within the industry. In the Northwest region, mainstream market price was offered at 9600 yuan per ton, manufacturers' inventories were low, and shipments were good.

Downstream market of polypropylene held a strong wait-and-see attitude; trade volume did not see any improvement, and domestic propylene market showed limited volatility.

Market express of propylene prices on Feb 20

Propylene prices at the international market are going through fluctuations. Quotations for the Far East saw a down trend on February 21, where as a volatility can be observed for the European countries compared to the last week.

Far east region propylene prices:

Propylene, FOB South Korea, at US $1195-1200 per ton.

European region propylene prices:

Propylene (polymerization level), FD Northwest Europe, at Euro 875.00-880.00 per metric ton.

Propylene (polymerization level), CIF Northwest Europe, at Euro 865-870 per metric ton.

Fibre2fashion News Desk - China

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