Lack of ample transactions influenced by weak downstream polypropylene demand and falling feedstock costs, marked the propylene markets of Asia. A quietude prevailed as naphtha prices in the continent dipped to hover around US$750/MT CNF Japan. Sellers continue to offer material at US$1100/MT FOB Korea, while buyers have expressed an intent to buy about hundred dollars lower. Downstream PP markets, where prices plunged by almost hundred dollars at the onset of the week long Chinese national holidays, continue to remain lackluster on slack demand.
October offers from South Korea, India and Saudi Arabia have dropped to US$1300/MT CFR China for yarn/injection grades and at around US$1350/mt CFR China for IPP grade, despite which demand continues to remain restrained.
07-Oct-08 
