In Asia, spot propylene prices were stable at $620/ton CFR Far East Asia and $5/ton firmer at $580/ton FOB South Korea as of the end of last week. A stable to firm trend was maintained although players were mostly away for holidays. Tight supplies continued to support the market with upcoming turnarounds exerting more pressure on prices.
In Europe, spot propylene prices firmed up to be reported at €495-500/ton FD NWE as of the end of last week. According to players, supplies are somewhat reduced due to recent opportunities to export propylene to the Middle East because of production problems in that region. The restart of Elba’S POSM-2 unit, which uses propylene as a feedstock for its 250,000 tons/year propylene oxide production, also helped prices gain ground.
In the US, spot prices for polymer grade propylene continued to soften to 27 cents/lb ($595/ton) FD USG as of the end of last week. Weak oil prices and stable propylene production were blamed for the weekly softening. February propylene contracts, meanwhile, settled 1.5 cents/lb ($33/ton) lower at 30 cents/lb ($661/ton) for propylene grade FD USG
In Asia, spot propylene prices were stable at $620/ton CFR Far East Asia and $5/ton firmer at $580/ton FOB South Korea as of the end of last week. A stable to firm trend was maintained although players were mostly away for holidays. Tight supplies continued to support the market with upcoming turnarounds exerting more pressure on prices. In Europe, spot propylene prices firmed up to be reported at €495-500/ton FD NWE as of the end of last week. According to players, supplies are somewhat reduced due to recent opportunities to export propylene to the Middle East because of production problems in that region. The restart of Elba’S POSM-2 unit, which uses propylene as a feedstock for its 250,000 tons/year propylene oxide production, also helped prices gain ground. In the US, spot prices for polymer grade propylene continued to soften to 27 cents/lb ($595/ton) FD USG as of the end of last week. Weak oil prices and stable propylene production were blamed for the weekly softening. February propylene contracts, meanwhile, settled 1.5 cents/lb ($33/ton) lower at 30 cents/lb ($661/ton) for propylene grade FD USG
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