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Domestic propylene market to remain in consolidation
Aug '08
Last week propylene price range in the Asian market widened. Taiwan and Korean markets also looked pessimistic, spot transactions were quite slow. Downstream PP market continued to decline. PP price fell to US $1700- $1750 per ton (CFR China main port).

Recently due to profit decline, domestic refineries have either reduced or even stopped production; thus supply in the market has been limited. In the down stream market, speculation has pushed polypropylene price to go higher.

In Shandong Province, propylene market price continued the rising trend. The offer price stood at 11200-11800 yuan per ton, while mainstream market transaction price is at 11500-11600 yuan per ton.

In North China, prices were relatively stable; most manufacturers raise their price by over 100 yuan. Propylene plant of Tianjin Dagang operates steadily; present implementation price of the factory is at 10,700 yuan per ton. The offer price from Tianjin Petrochemical is at 10,700 yuan per ton.

In Northeast region, price rose by about 1,000 yuan. Propylene factory price from Jinzhou Petrochemical is at 11,200 yuan per ton. Jinxi refinery and petrochemical is offered at 11,000 yuan per ton. Quotation price from Heilongjiang petrochemical stood at 12,000 yuan per ton.

In Northwest region, price increases by about 300-350 yuan per ton. Propylene price from Xianyang auxiliary is at 10,650 yuan per ton. Implementation price of Xi'an Petrochemical is at 10,700 yuan per ton. Lanzhou Petrochemical is listed at 9500 yuan per ton.

PP market still relies on speculation and follows a slight rise, but it actually lacks bullish momentum. Domestic propylene market is expected to have limited push and will mainly remain in consolidation.

Fibre2fashion News Desk - China

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