Floundering propylene values corresponding with weakening crude and naphtha prices have triggered a US$200 fall in polypropylene prices in Asia. Sellers offers from South Korea and Singapore have plunged to hover around US$870-900/MT CFR China, however bids from Chinese buyers dropped by about $30-50.
Dull demand and weakening feedstock costs have pulled down PP prices in USA. Despite capacity shutdowns caused by Hurricane Ike, supply seems to be in equilibrium with processor demand. Demand seems down by about 15-20% in view of suspended or defered buying with regard to economic instability. This has been accompanied with weak demand from export markets as prices tank in Asia. Hence PP prices in USA, that have slipped, could be headed further south.
23-Oct-08 
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