News From Plastics Industry. Daily updates on naptha, oil, plastic raw material price movements. News on crackers, and plastic plants. Information on developments in plastics packaging, packing products, additives for plastics, new plastic raw materials and plastic products
Thursday, January 31, 2008
FEEDSTOCK - PROPYLENE
As supplies remained restricted due to plant problems, propylene markets maintained an uptrend. Propylene prices spiked to US$1320/MT in Asia in the week of January 28, 2008. Scarce inventories causing a short supply situation, has led to inactivity in the market; while most buyers are hesitant to buy at levels above US$1250/MT FOB Korea as downstream PP prices have not moved beyond US$1450-1470/MT CFR China. Buying sentiments from China has not caused much movement in the markets, as they continue to be supplied well by local producers.
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