Asian propylene prices slip further by weak demand

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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