Asian propylene prices slip further by weak demand

31-Jul-08
Unenthusiastic buying due to sufficient inventories with the buyers and subdued downstream demand has plunged propylene prices in Asia by about fifty dollars to US$1600/MT FOB levels. Despite this dip, lackluster sentiments from China continues to keep demand slack, as buyers have expressed an interest to buy at levels of US$1650/MT CFR China. Propylene avails are expected to tighten with effect from August for about 4 months, as 8 plants are due to shut for maintenance in Taiwan and Japan.
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