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Asian marker, FOB Korea was up 8.9% in December while it declined 8.4% YoY, and CFR China rose 9.7% from November while it fell 8.5% YoY.

Propylene prices in Asian markets rose in December as downstream PP makers strengthened while Chinese ports saw congestion.

In Europe, propylene markets were on bullish contract price expectation in January. In US, December propylene offers dropped on the month.

In Europe, CG propylene jumped 6.2% from November while it was down 24.8% YoY. Spot polymer-grade propylene prices in US were down 0.7% on the month.

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Asian ACN prices declined US$70 a ton CFR Far East Asia in the second week of December while Southeast Asia fell US$75 a ton on the week. In China, offers for offshore cargoes were down US$70-80 a ton on the week.

Acrylonitrile prices caved in although feedstock propylene and crude oil values were up that week. Downstream demand was stable as acrylic fibre prices held stable, and suppliers ran at 75% capacity. ABS sentiment held firm on cost support, with domestic producers generally offering at stable rate. Acrylamide prices remained steady.

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Asian propylene markers jumped US$48-54 a ton CFR China and FOB Korea in the second week of December. Propylene prices continued to surge day on day throughout the week as downstream PP makers strengthened further while port congestion in China hated to ease. Asian markers gained 6% on the week having gained more than US$70 in just two weeks.

In US, December propylene discussions were ongoing expecting drop, with sellers and buyers still wide apart on the amount that monthly pricing should fall. Chemical grade propylene spot inched up US cents 1.50 per pound FD USG on the week.

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Related Keywords: acrylic prices, naphtha prices, Nylon prices, oil prices, Polyester prices

Crude oil prices have retreated US$50-53 per barrel or US$360-390 a ton since its peak of June 2014. More than that, the first two weeks of December has already seen them falling more than US$11 a barrel, the fastest drop in a shortest period not heard in recent years. International benchmarks have touched new five-year lows on 12 December after the world's energy watchdog forecast even lower prices on weaker demand and larger supplies next year.