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.
European propylene prices surged in cues from Asian and US. Spot chemical grade propylene prices surged Euro50 a ton FD NWE on the week. December propylene contract price was down Euro30 a ton on the month.
Courtesy: Weekly PriceWatch Report
