The upward trend maintained by propylene prices in the last week in the Far East region was maintained in this week too, though prices of the raw material stayed stable in Europe and fell marginally in US markets.
Propylene prices for FOB South Korea in Far East region rose from last week’s levels of US $665-667 per ton to close at $675-677 per ton. Though, analysts are at a complete loss with regards to the increase in propylene prices only in this market.
Propylene prices in European markets though remained stable when compared with prices in the previous week. Propylene (polymerization level), FD Northwest Europe and CIF Northwest Europe continued to be quoted at €436-446 and €411-421 per metric ton, respectively.
The US markets saw prices of propylene falling marginally, vis-à-vis the rising trend in last week and dipped to US cent 22.505-23.005 per lb from US cent 23.380-23.630 per lb, recorded in the earlier week.
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