Home / Knowledge / News / Textiles / Propylene prices slip across Asian markets
Propylene prices slip across Asian markets
07
Jul '10
Propylene prices in Asian spot market fell US $15-30 / ton in the previous week, as upstream crude oil prices retreated to $70 / barrel. In the process, downstream derivatives market also reduced.

Most cargoes were traded below $1,100 / ton (CFR Northeast Asia) mark, while Chinese market was slow, as storage space for July cargo was limited, end users worried about prospects of derivatives market conditions, they were reluctant to purchase cargo under the background of declining domestic prices.

Limited sales of Southeast Asian spot cargo and ample supply in the region also contributed to the sluggish market in the week.

Arbitrage shipments slowed down, the opportunity for 5,000 tons of cargo with shipment in August to export from South America to Asia still exists. Buyer's bids were US $1000/ ton (CFR China), but did not receive any response from traders.

In Northeast Asia, propylene spot prices fell $30 to $1,040-1,080 / ton (CFR China). Ex-warehouse price of propylene fell 200 Yuan / ton to 8,600 Yuan / ton in East China and In Shandong, the ex-warehouse price fell 400 Yuan / ton to 8,600 Yuan / ton in Shandong.

In the FOB Northeast Asian market, sales intention of South Korean cargo for shipment in the second half of July remained at 1,000 / ton (FOB Korea), but purchase intention of traders was $1,000-1,030 / ton (FOB Korea).

In Southeast Asia, propylene prices fell $15-30 to $980-1030 / ton (CFR South East Asia). Some cargoes with shipment by end-July were traded at $985/ ton (CFR Indonesia) on Friday.

Selling intention of sellers was $1000-1030 / ton (CFR South East Asia) on the week, while purchase intention from buyers was $980-1000 / ton.

Buyer's interest reduced, as most of end-users have completed their requirements for July, so they are not anxious to buy spot cargoes. 3,000 tons of frozen cargo for arrival in mid-August is still open for sale. Offers for the same were $1050/ ton (CFR South East Asia), but buyers showed no interest.

Fibre2fashion News Desk

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search