Home / Knowledge / News / Textiles / Spot prices of propylene rebound higher

Spot prices of propylene rebound higher

11
Jan '11
Spot prices of Asian propylene rebounded higher in the just concluded week, supported by upstream naphtha price, plus recent reduction in supply, because local plants are under maintenance or upcoming maintenance in the first and second quarters.

Arbitrage window for shipment to the United States is closed; U.S. propylene price is higher due to tight supply and strong demand. It is reported that 10,000 tons cargo will be shipped to the United States from Northeast Asia in January, but the news has not been confirmed.

Supply in Chinese market remained excessive, due to severe congestion at major Chinese ports, which hard-pressed the market. Major buyers were in the sidelines, due to weak domestic prices, import price of propylene was US $1300/ ton (CFR China), while offers were down to middle level of US $1300/ ton (CFR China), price trend looked optimistic.

Spot prices of propylene are expected to remain bullish, especially in early February after the Chinese New Year holidays, when buyers will return to market to replenish stocks, while South Korea, Japan and Indonesia plan to stop cracking plants, which will also support the market, sources, said.

Asian naphtha contract prices for the second half of February fell on Friday; the spread of naphtha fell to 4-day low at US $170.48 / ton. A cargo with shipment in the first half of March was traded at US $871.50 / ton (CFR Japan) in previous time. Main derivative PP price rose US $10-20 to US $1460-1500 / ton (CFR China).

In Northeast Asia, spot price was assessed at US $1300-1340 / ton (CFR Northeast Asia), reflecting the level of transaction and quotation.

In China's domestic market, propylene price in Shandong was basically at 10350-10450 Yuan / ton (ex-warehouse) in earlier time of the week, price rose 150 Yuan in the second half, it was said that trade level of the previous week was 10600-10650 Yuan / ton (delivered within Shandong), as local refineries shut down in the New Year holiday period.

In the FOB Northeast Asia market, offers rose to US $1,300 / ton (FOB Korea), but purchase interest was limited. Buying intention was below the middle level of US $1,200 / ton (FOB Korea); FOB Japan was below US $1,200 / ton, as the market generally accepts CFR for transaction.

In FOB Southeast Asia, it was said that a cargo from Singapore was traded at US $1,180 / ton (FOB) with shipment in January. Purchase intention rose to the middle and high level of US $1100 / ton (FOB South East Asia), consistent with market trend in China.

Fibre2fashion News Desk


Must ReadView All

Pic: Shutterstock

Textiles | On 5th Aug 2021

US manufacturing activity grows in Jul; textile mills report fall: ISM

Economic activity in the US manufacturing sector grew in July, with...

Pic: Shutterstock

Textiles | On 5th Aug 2021

UK inflation to hit 3.9% in early 2022, 2% in 2023, predicts NIESR

UK consumer price inflation will reach 3.9 per cent early next year,...

Pic: Shutterstock

Retail | On 5th Aug 2021

Walmart again ranked largest firm by revenue, Amazon 3rd: Fortune

Walmart has been again ranked the largest company in the world by...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Textile Industry, Head honchos

Textile Industry
Head honchos

Biggest learning was adaptability

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

Chendhuran Sundar,

Chendhuran Sundar

It manufactures and retails menswear garments in India under the brand...

Nantas Montonati,

Nantas Montonati

The Riri Group is a one-stop supplier of metal accessories for the luxury...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah & Sandeep is a luxury menswear label...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2021

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


Advanced Search