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Propylene market likely to consolidate its position

11
Dec '08
Although crude prices are moving downward, propylene market in China is showing stability, due to basic balance in supply and demand situation.

With the approaching year end, both factories and traders are cautious and reluctant to take any major move; they are controlling their fund strictly by reducing expenditure and avoiding blind speculation. However, without strong support from down stream manufacturers, the market trend is expected to lose its lustre.

Last week, the mainstream price of propylene in Shandong was stable, and traded at 5200 yuan per ton; in Northwest, propylene price declined 400 yuan per ton, and traded at 5100 yuan per ton; in Northeast region, propylene price lowered by 100 yuan, and was quoted at 4900 yuan per ton; in North China, propylene price fell by 400 yuan to touch 5100 yuan per ton for mainstream level.

China's propylene market is expected to consolidate its position in short term, due to relative firmer trend in down stream market.

Market express of propylene prices on December 11

On December 10, propylene prices showed considerable fluctuation in various markets. Regions like Far East showed a considerable surge; in Europe prices demonstrated a substantial fall, as inventories in these markets are quite high; where as prices in the US region observed some stability in comparison to the previous week.

Propylene prices in Far East region:

Propylene, FOB South Korea, at US $499-501 per ton.

Propylene prices in European region:

Propylene (polymerization level), FD Northwest Europe, at Euro 360.00-370.00 per metric ton.
Propylene (polymerization level), CIF Northwest Europe, at Euro 350.00-360.00 per metric ton.

Price in the United States:

Propylene (refining level), FAS Houston, at US cent 11.625-11.875 per lb.

Fibre2fashion News Desk - China


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