Prices of key petrochemicals have shot up in the last few days. Propylene is one raw material which has not been left behind in the rise of its prices. Other than demand created by other countries, the Chinese manufacturers have also showed a strong appetite for purchase, on their return from the annual lunar holidays.
The manufacturers were also awaiting the return of the Chinese downstream manufacturers to generate demand for the raw material.
In the Far East region, Propylene, FOB South Korea was quoted at US $641-646 per ton compared to $583-$593 per ton on Jan 22. In the European region, Propylene (polymerization level), FD Northwest Europe, was quoted at Euro 411-421 per metric ton, compared to Euro 402-412 per metric ton.
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While Propylene (polymerization level), CIF Northwest Europe, was citied at Euro 401-411 per metric ton, corresponding to Euro 392-402 per metric ton on January 22. In the US, Propylene (refining level), FAS Houston, quotes ranged from US cent 23.630 to 23.880 per lb, vis-à-vis US cent 21.505-22.005 per lb, again on January 22.
Fibre2fashion News Desk - China
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