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Propylene prices will weaken in Oct – Experts
21
Sep '10
The Asian propylene market was basically stable in the first half of the just concluded week, although trade was slow on Thursday and Friday, due to increased local supply weighing on the market.

Experts expect that price will weaken in October, because Chinese buyers have purchased their inventories for September and the first half of October before the Chinese Mid-Autumn Festival and the National Day holidays.

China Petrochemical and SABIC have restarted the 1 million tons per annum naphtha cracker located in Tianjin on September 17, the cracker shut down on Sept. 12 due to mechanical failure, but it had limited impact on the market.

In the Northeast Asian market, propylene stock valuation stabilized at $1160-1175 / ton (CFR Northeast Asia), reflecting the low level of quotations and transactions.

In the previous week, China's domestic market, price was stable at 9500-9600 Yuan / ton in East China, was quoted at 9,700 Yuan / ton (ex-warehouse) in Shandong market, the market was stable.

In Southeast Asia, spot price fell $10 to $1100-1130/ ton (CFR South East Asia), due to the influence of negotiations.

In FOB Southeast Asia, it was said that the price of cargo to be delivered by the end of September was quoted at $980 / ton, but not confirmed. Purchase intention was basically at $900 / ton (FOB Southeast Asia).

Fibre2fashion News Desk

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