Polypropylene

Polypropylene prices in Asia moved up on robust selling offers from South Korea to US$1490/MT in the week of February 4, 2008. Polypropylene offers from South Korea did not move in tandem with downcast demand from China that has been subdued just ahead of the Lunar New Year holidays next week. Driven by limited availability and higher feedstock propylene values, most producer from South Korea have hiked February offers sharply to the level of US$500-1525/MT CFR China. Offers from Malaysia were pegged at levels of US$1500/MT, and have not been accepted by buyers from China. PP prices from Chinese producers, operating plants at normal capacity, held steady.