Propylene prices spike in Asia on stronger demand

Last week, propylene prices gained sharply in the Asian region.

An industry source in Asia informed a Polymerupdate team member, “Propylene prices climbed sharply, driven by improved buying interest from downstream industries and rising domestic prices in China. The firm price trend in the Chinese market encouraged suppliers in other regions to raise their offers. Stronger demand from derivative producers, coupled with sellers' resistance to price reductions, further reinforced the upward market momentum.”

FOB Korea propylene prices were assessed at USD 1255-1265/mt levels, a hike of USD (+75/mt) from the previous week.

CFR China propylene prices were assessed at USD 1295-1305/mt levels, a week-on-week surge of USD (+75/mt).

CFR Taiwan propylene prices were assessed at USD 1155-1165/mt levels, a rise of USD (+35/mt) from the previous week.

CFR Southeast Asia propylene prices were assessed at USD 1265-1275/mt levels, a week-on-week increase of USD (+20/mt).