POLYMERS-Polypropylene

PP markets in Asia remained lackluster and stagnated at last week's level of US$1400/MT in the week of August 20, 2007. Several suppliers are reported to have deferred offers this week. Strong propylene prices have prompted major Asian producers to propose a US$20-25/MT hike in offers for September. However, the market estimates a very limited future price hike as the high demand season approaches a fag end in Asia.