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 as 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.
This has triggered yet another round of production cuts in Aisa. South Korea's SK Energy plans to shutter by end of month, its 140,000 tpa No.1 cracker along with Lotte Daesan, KPIC.
20-Oct-08 
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