Polypropylene

Polypropylene market sentiments in Asia have dampened in the week of January 28, 2008 as its major consumer China, moves towards it Lunar New Year holiday season next month. PP markets remained lackluster as prices stagnated at US$1480/MT. However, burdened by rising feedstock propylene prices, major producers from South Korea and Taiwan intend to hike February offers for yarn/injection grade at US$1510/MT CFR China, notwithstanding buying intention from China currently lingering in the range of US$1470/MT CFR CMP.