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Asian propylene spot trends ascend
31
Aug '10
In the previous week, spot market prices of Asian propylene went up, mainly due to higher offers in Southeast Asia. Supply has reduced compared to previous months and a large number of regional cargoes were sold to Northeast Asia where price level was relatively higher.

Price in Shandong Province rose, and the unexpected repair of a cracker prompted sales intention up to US $1,250 / ton (CFR Northeast Asia). However, buying interest from buyers was limited, as downstream derivatives markets were mixed.

Polypropylene producers still felt the price of $1200 / ton (CFR Northeast Asia) unbearable, buying intention from propylene oxide plants and other profit-making derivatives production plants was at $1200 / ton (CFR Northeast Asia).

In Northeast Asia, spot assessment of propylene in the region remained stable at $1180-1220 / ton (CFR Northeast Asia), reflecting the level of market bargaining.

Price in Shandong Province rose to 10,000 Yuan / ton (ex-warehouse) that brought sales target of sellers to $1,250/ ton (CFR China). But the price fell back to about
9600-9700 Yuan / ton (ex-warehouse) on Friday.

In East China, domestic price of propylene rose 300-400 Yuan, to 9,400 Yuan / ton (ex-warehouse).

In the FOB Northeast Asian market, no deal could be reached. Limited supply from South Korea pushed selling intention up to $1,200 / ton (FOB Korea). Most traders said it would be too risky to purchase at such high prices.

In Southeast Asia, propylene spot price rose $40-50 to $1120-1160 / ton (CFR South East Asia), due to higher offers. Supply was tight, due to the limited supply from Vietnam after a new polypropylene plant was put in to operation; in addition, most cargoes were bound for China.

In FOB Southeast Asian market, spot prices held steady. September cargo basically finished transactions, while October shipment has not yet started trade activities.

Fibre2fashion News Desk

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