14 July 2006 08:47 [Source: ICIS news]
SINGAPORE (ICIS news)--The US to Asia arbitrage for polypropylene (PP) opened this week, with over 2,000 tonnes of the yarn grade sold at $1,250-1,260/tonne CFR China for shipment from end-July to mid August, traders said on Friday.
Low spot propylene prices and weak PP demand in the ?xml:namespace>
US spot propylene prices were assessed at 44.25-46.00 cts/lb for the week ended 7 July, according to global chemical market intelligence service ICIS pricing.
A few Asian traders said they had received more offers of US PP yarn grade at $1,270-1,280/tonne CFR China for July or August shipment. This was up to $30/tonne lower than offers of Asian and
Asian PP prices fell dramatically in the second and third quarter of 2005, when large quantities of
Producers in Asia and the Middle East have not announced August offers for
Some Asian producers need to raise prices for August due to high crude and propylene prices, and could cut production if their attempts to raise prices were thwarted by an influx of lower-priced
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