Propylene prices remain firm

29 May '08

3 min read

As Shandong market was at high-end, price increase was modest in the week. In Shandong market mainstream propylene price was at about 13,000 yuan per ton. Overall, refining factories in Shandong lowered operating rate to reduce losses, so supply of propylene was limited.

As international price of crude oil hit new highs, petrochemical enterprises in East China raised price by 300 yuan per ton to 12200-12400 yuan per ton.

Last week, domestic propylene markets around the country started gaining momentum, but overall scope was still limited. On the whole, tight propylene supply in domestic market as well as continued high international oil prices provided support to propylene costs. For instance, prices for South Korea climbed while that for Europe showed slight fluctuations.

Market express of propylene prices on May 28

Propylene prices in Far East region:

Propylene, FOB South Korea, at US $1525-1535 per ton

Propylene prices in European region:

Propylene (polymerization level), FD Northwest Europe, at Euro 800.00-810.00 per metric ton

Propylene (polymerization level), CIF Northwest Europe, at Euro 790.00-795.00 per metric ton

Prices in the United States:<br>
Propylene (refining level) FD US Gulf at US cent 68.750-69.000 per lb

Ethylene, FD US Gulf, at US cent 59.625-59.875 per pound.

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