Propelene maker Lotte Daesan among other has revised their prices upward for their January offers, this week.
Reason extended was depleting stocks and rising upstream propylene costs that have led to the hike in prices.
Prices have escalated on the news that Taiwanese producer CPC shutting down further affecting the propylene and ethylene shipments followed by smart rally in Asian markets, this week.
As for polyolefin, the prices appear stable for now. However, Asian markets are witnessing slow but steady flow of buyer queries, particularly from Pakistan at about $1100 per metric ton CFR mark while seller sources quoted $1070 per metric ton CFR from other parts for injection and yarn quality product.
Market is abuzz with the news that PP supplier have no stock till December end and sentiments appear optimistic at higher prices beginning January.
Source from the market said their company hopes to pad up the PP prices by a minimum increase of around US $ 20 per metric tons exemplifying nil inventories at December end.
Demand from China has slid on account of easing out of energy prices, marginally, but lower revision in import duties that will be implemented from January 1st 2006, may again see the rates climb even as PP stock building exercise may continue till January end that markets foresee tumbling energy prices with stepping up in its demand.
marketing@alchempro.com
