Asia Propylene: Less on the week due to poor buying- Bearishness persists on downstream markets- Lower propane prices are expected to reduce propylene
supplyMarch 3 saw the Asian propylene market fall
as buyers continued to struggle with a slow downstream. According to market
sources, although prices are trending lower over the week, buyers remain
cautious due to a poor downstream polypropylene marketplace. Prices for domestic raffia grade PP in China fell Yuan 75/
mt to Yuan 7725/mt. Market observers
predict further market declines as feedstock costs ease. According to some sources, China's propane-dehydrogenation
plants operate at an average of 60%. This suggests that a rise in run rates
could result in higher regional propylene supply. Due to regional supply shortages, Southeast Asia saw few
buying signals due to low offer prices. Although
exports from Northeast Asian...