Taiwan January propylene up 4.9%

04 March 2008 07:59  [Source: ICIS news]

SINGAPORE (ICIS news)--Taiwan’s January domestic contract price for propylene rose $57/tonne from December due to high feedstock naphtha costs and hikes in the US and Europe contract prices, a local producer said on Tuesday.

January’s contract price has been confirmed at $1,228/tonne DEL (delivered), he added.

The US polymer grade propylene (PGP) contracts in January were up 0.5 cents/lb ($11/tonne) from December to 62.50 cents/lb.

Taiwan’s monthly contract price for propylene, which takes into account US, Europe, Asia and South Korea spot prices, is settled via a pricing formula between the country’s two producers Formosa Petrochemical Corp (FPCC) and CPC Corp, and various domestic buyers.

February contract price was nominated at $1,234/tonne DEL, with a confirmation expected later in the month.

By: Kew Jia Hui
+65 6780 4359

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