Propylene is a colorless and flammable feedstock material, used in the manufacture of a variety of products such as polyester compounds and solvents in the paint and plastics industries.
Propylene prices in Asia dropped with buyer bids pegged within the range US $970-960 per metric ton CFR.
Propylene supply is abundant and considering the ongoing Chinese Holidays, the demand is slow leading to downslide in the prices in Asia.
Sources report that the prices dipped lower to reach $910 per metric ton FOB Korea levels.
Although, buyers are not accepting high prices, some traders still stick to their February offers at $1200 per metric ton CFR.
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