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Asian propylene spot price slides down

18
Sep '08
Sharp fall in international crude oil price has driven spot price of propylene in Asia lower more than US $120 to $1,350 per ton CFR China, the lowest point in four months.

On the other hand, weak demand from the down stream market (polypropylene PP) leading to production load cut in China has also contributed to the rapid decline.

Meanwhile, September contract price of the U.S. polymer grade propylene (PGP) declines 20 cents per lb from the previous month on agreement. PGP contract price has been adjusted to 65 cents per lb. August contract price of the US cgp set at 83.5 cents per lb, no report of settlement price of chemical grade propylene (cgp).

On September 17, Propylene prices for Far Eastern experience a step fall where as the European region remained stable. On the other hand prices for the US market saw a plunge in comparison to the earlier week.

Propylene prices in Far East region:

Propylene, FOB South Korea, at US $1149-1151 per ton.

Propylene prices in European region:

Propylene (polymerization level), FD Northwest Europe, at Euro 965-970 per metric ton.
Propylene (polymerization level), CIF Northwest Europe, at Euro 995-1000 per metric ton.

Price in the United States:

Propylene (refining level), FAS Houston, at US cent 59.000-59.500 per lb.

Fibre2fashion News Desk - China


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