- Shandong propylene down Yuan 25-40,/mt- Buyers withdraw on weaker
futures





On July 21, the CFR China propylene market
fell as buyers lost confidence due to a drop in downstream polypropylene prices. The ICE September Brent crude oil futures fell
$2.20-3.50/b on July 21 from their previous Asian close of $103.76-120.50/b at
0830 GMT Asia, adding to pressure on the propylene market. A South
Korean propylene producer explained why the demand has slowed. Imports
also suffered from a decrease in domestic propylene prices. China
Shandong propylene prices fell from Yuan 25-40/mt to Yuan 7,325-7,500/mt ex tank. Propylene
prices experience a seasonal slump between July and August. Some
producers in northeast Asia have reduced their run rates due to concerns about
China's new lockdowns and slow downstream polypropylene demand. "PP
price is falling." A propylene trader from South Korea...