Propylene prices march higher in Asia on reduced output and rising freight costs

On Monday, propylene prices in Asia were assessed higher, following a spike in upstream naphtha values. However, market sentiment remained cautious due to tight supply conditions.

Meanwhile, limited availability of key raw materials has forced several regional producers to declare force majeure or reduce operating rates, helping to keep market sentiment firm.

FOB Korea propylene prices were assessed at USD 1175-1185/mt levels, a rise of USD (+30/mt) from last Friday's assessed levels.

CFR China propylene prices were assessed at USD 1225-1235/mt levels, an increase of USD (+30/mt) from last Friday.