POLYMER FEEDSTOCK-PROPYLENE

Propylene prices in Asia waned to US$1110/MT due to deficient buying interest despite an unforeseen outage of Formosa's No.1 naphtha cracker. Propylene market weakened on account of mellowed buying interest in Asia from wary buyers as preferred to wait in the sidelines. The reluctance to buy on part of the buyers was because of a continual decline in momentum in the downstream PP market for the past fortnight.