Tuesday, October 21, 2008

Asian propylene prices plunge on weak PP, ACN and phenol demand

Producers of PP, ACN and phenol have drastically lowered their buy of feedstock propylene. This lackluster downstream buying has triggered a two hundred dollar dive in propylene prices in Asia. Even aas CFR China offers for spot cargoes for November shipment have tanked to US$700-750/MT, buying interest fails to get revived amid persistently weak demand and sluggish market outlook.

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