Asian propylene price increases by $15-20/mt, as the
demand slows returns■ Sentiment slight boosted by lifting lockdown Shanghai■ Uncertainty in downstream prices Impacts
trade activity





China's propylene import prices climbed $15-20/mt
during the week of June 3rd, as Shanghai relaxed its lockdown restrictions. This helped to improve market
sentiment. Sources stated that trade
activity was slow due to a lack of demand from downstream segments such as
polypropylene. This could also indicate
that China will need to wait for downstream demand recovery. According to market sources, the price direction for
downstream segments was uncertain. Although
there was not an immediate price increase in polypropylene, propylene demand
will gradually rise if production recovers. Market participants predicted that propylene would
experience price support due to firm raw material costs, and a decrease in spot
supply as Northeast Asian crackers adjust higher. Asian...