No boost from dehydro outage

19 April 1999 00:00  [Source: ACN]

The outage at MTBE Malaysia's propane dehydrogenation unit two weeks ago will do little to boost propylene prices as 'the upside will be capped by US supplies', said market sources.

Prices edged up around US$5/tonne to US$315-320/tonne cfr SEA following the outage, but strong buyer resistance was detected when sellers attempted to raise offers beyond US$320/tonne cfr SEA.

Buyers reported receiving offers of US$320/tonne cfr SEA, contrary to unconfirmed and much-doubted reports that there were deals as high as US$325-330/tonne cfr SEA.

Buyers will be driving a hard bargain, knowing that there is material available from a 16 800-tonne US shipment due for mid-May arrival in the hands of a western trader, said market sources.

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly