The trends continued this week in global prices of petrochemicals, which are falling back after having rebounded in the last few weeks. Close on the heel of a decrease in prices of ethylene and benzene, propylene markets have also started moving southwards.
Propylene prices for FOB South Korea in Far East region fell to US $645-647 per ton on from the last week's levels of US $665-667 per ton, which is a repeat of the trends seen in prices of ethylene. The main reason as analyzed by experts is the slowdown in demand.
Propylene prices on the other hand stayed flat in the European markets compared to last week. Propylene (polymerization level), FD Northwest Europe and CIF Northwest Europe were quoted at levels as those traded in last week at Euro 411-421 and Euro 401-411 per metric ton respectively.
The US markets also saw prices of propylene tumbling, with prices in Houston being quoted at US cent 23.255-23.380 per lb corresponding to US cent 25.00-25.50 per lb in the previous week.
Fibre2fashion News Desk - China
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