Producers of PP, ACN and phenol have drastically lowered their buy of feedstock propylene. This lackluster downstream buying has triggered a two hundred dollar dive in propylene prices in Asia. Even aas CFR China offers for spot cargoes for November shipment have tanked to US$700-750/MT, buying interest fails to get revived amid persistently weak demand and sluggish market outlook.
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Tuesday, October 21, 2008
Asian propylene prices plunge on weak PP, ACN and phenol demand
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