Sellers of propylene in Asia have lowered intentions to US$1,100/mt FOB Korea for February shipment, but interestingly, the Asian propylene market continued to remain quiet last week as buyers adopted a wait and watch policy. As no fresh deals were heard last week and the price of derivatives continued to be weak, both the buyers as well as sellers have adopted a wait and watch policy as buyers want to wait under the expectation that prices may head more southward, and sellers are holding firm offers on fears about further price drop.
In comparison, ethylene prices in Asia were more stable last week despite a wide price gap between offers and bids. Influenced by tight supply situation, notional offers were pegged almost US$50-100 higher than buyer's bids of US$1,300/mt.
Thin sale of Styrene Monomer was witnessed by producers based in the north of China over the weekend, resulting in relatively high SM inventories.
30-Jan-07 
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