POLYMERS - Polypropylene

Polypropylene prices rose to US$1410/MT in Asia in the week of November 19, 2007, as most big suppliers hiked offers for December shipment. Offers from South Korea's Daelim were twenty dollars higher for yarn/injection grade. No offers were heard from Honam Petrochemicals, though a selling bid was indicated at US$1400 level CFR China for yarn/injection grade, coupled with tight supplies for IPP grade. A suspension of PP offers for December shipment was announced by the Indian players after conclusion of few deals at around US$1380/MT BWT China, in anticipation of a hike in for fresh offers.