NewsFlashChina propylene oxide jumps on costs

13 March 2008 07:49  [Source: ICIS news]

SINGAPORE (ICIS news)--Propylene oxide (PO) prices in China have staged a sharp rebound this week, up CNY400-500/tonne from a week earlier, on cost pressure from upstream propylene, producers and end-users said on Thursday.

PO prices were at yuan (CNY) 13,300-13,800/tonne ($1,873-1,944/tonne) on a delivered basis this week, according to global chemical market intelligence service ICIS pricing.

Offers were hiked significantly to pass on the high propylene values this week, producers said, adding that this had little to do with a change in market demand.

Some end-users were heard to have adopted a wait-and-watch posture amid the market volatility.

Prices bottomed out only last week after seven straight weeks of losses from sluggish sales.

PO is a key raw material for polyols and propylene glycol.

($1 = CNY7.10)

By: Hsin Hun Wan
+65 6780 4359

< previous article(VIDEO – ICIS news Americas Lunchtime Bulletin 3 November 2009)

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