In the last week of July, Asian propylene prices inched up amid thin discussions talks ahead of new plant startups. Demand was also heard to be weak in China amid ample inventories. In US, chemical grade propylene was dearer while refinery grade dipped to a fresh 75-month low.
In Europe, August contract prices fell for first time since September while spot chemical grade propylene was down on the week. Acrylonitrile prices in Asia continued to trek down, pressured by ample supply in China and Indian weakening demand due to sluggish downstream markets. US acrylonitrile export assessment fell on slow demand and tracking lower Asian numbers while European prices were pegged down despite decent demand.
ASF markets were mixed in Asia where price were seen inching up in China, falling in Pakistan and rolling over in India at the end of July. In China, ASF producers released list prices for early August, and others followed up. Downstream yarn sector saw bearish sentiment amid the dull season continued to play. Mills maintained hand-to-mouth procurement volume, citing slow yarn liquidity amid the dull season.
Courtesy: Weekly PriceWatch Report
