Limited movement in propylene and styrene monomer prices in Asia

Propylene and Styrene Monomer prices have shown little movement in the week. Despite lackluster markets, FOB Korea propylene prices edged up to US$485-500/MT. Despite unenthusiastic buying that has kept bids about 35 dollars lower, sellers are unable to bring down prices any further because of poor production margins. CFR China Styrene Monomer prices were heard at a firm US$570/MT mainly due to reduction in run rates by several producers squeezing supply to levels sufficient for captive consumption or to implement long term contracts. Hence, despite bearish upstream and downstream markets, Producers have managed to get a hold on the rapidly deteriorating markets.
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