Propylene prices plunge in Asia

Despite bullish energy values, propylene prices fell sharply in Asia on Monday.

An industry source in Asia informed a Polymerupdate team member, "Prices declined as a negative sentiment prevailed in the Asian markets. Market players were seen exercising caution, as numerous traders refrained from buying due to worries about excess supply, low downstream demand, and persistent geopolitical uncertainties.”

On Monday, FOB Korea propylene prices were assessed at the USD 695-705/mt levels, a sharp drop of USD (-45/mt) from Friday’s assessed levels.

Meanwhile, CFR China propylene prices on Monday were assessed at the USD 745-755/mt levels, a decline of USD (-25/mt) from Friday.