Home / Knowledge / News / Textiles / Propylene market sentiment cautious
Propylene market sentiment cautious
Nov '10
Propylene market sentiment was cautious in the just concluded week, price range of spot market transactions narrowed in Asia. Bargaining in polypropylene market, firmly supported propylene price, but due to larger spread between offers and bids, transactions were limited.

In Northeast Asia, valuation range of stock narrowed to $1230-1260 / ton (CFR Northeast Asia / China). In FOB Northeast Asian market, 3-5 cargoes to be shipped in December / January were traded at $1130-1150 / ton (FOB Japan). Intention from buyers was $1100 / ton (FOB Japan).

Purchase intention of FOB Korea price fell to US $1100 / ton (FOB Korea). Firm offers were absent, market trade was light. In Southeast Asia, spot price rose slightly by $10-40 to $1150-1200 / ton (CFR South East Asia), being supported by tightening supply

In FOB Southeast Asian market, purchase intention was $1,000 / ton, due to sluggish buying interest. But offers rose to $1100-1120 / ton (FOB South East Asia) due to short supply.

Traders held cautious stance overall, due to market volatility and uncertain price of crude oil futures. The second naphtha cracker of Taiwan's Formosa Petrochemical Corporation successfully restarted and excess supply from Japan suppressed spot price of propylene.

However, Chinese manufacturing plants announced that they will reduce ethylene / propylene yield in December and a few crackers in Southeast Asia are under ongoing maintenance, which offset the impact to some extent.

Sinopec will reduce ethylene production by 10-15 percent in December, to ease shortage of diesel supply in some areas. Sinopec's ethylene production is expected to reduce by 100,000 tons in December and propylene output is expected to decline by about 50,000 tons.

At the same time, Indian Oil has canceled its tender of 5-6 cargoes to be shipped in December, because of unexpected equipment repair of RFCC plants for a week. Delivery time of some cargoes to be shipped in November has also been delayed.

The market sank into stalemate, because Chinese buyers have basically completed their cargo demand for December and are waiting for clear guideline in price trends.

Fibre2fashion News Desk

Must ReadView All

Textiles | On 9th Dec 2016

ACIMIT signs MoU with Pakistan textile bodies

In a bid to strengthen the trading in garments and textiles between...

Textiles | On 9th Dec 2016

‘Less demand may make it hard to achieve export target’

The $48 billion target for textiles and garment exports for 2016-17...

Textiles | On 9th Dec 2016

GST Council may decrease tax rates in future: CBEC

The goods and services tax (GST) Council might reduce the proposed...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Smita Murarka

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Pranav Mishra

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

December 2016

December 2016

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


Browse Our Archives


Advanced Search