Wednesday, February 06, 2008


Propylene prices witnessed a sharp dip of almost fifty dollars as prices dipped to US$1270/MT in Asia in the week of February 4, 2008. The propylene price dip was influenced by the arrival of cargoes from Iran easing the limited supply situation, and was also coupled with subdued demand. Demand in the region has been restrained as markets across the region weakened and also as China prepares to go on its week long annual Lunar New Year holiday. Selling intentions from Korea have dipped as buying sentiments have waned- as many buyers have bought urgent cargoes, and most buyers prefer to wait and watch, in expectation of price correction. Producers in China have currently maintained normal operating rates and medium scale inventories at most of the plants in the country.

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