Taiwan Feb propylene settles down $1/tonne

24 March 2008 09:34  [Source: ICIS news]

SINGAPORE (ICIS news)--Taiwan’s February domestic contract price for propylene saw a slight dip of $1/tonne from January in line with lower US prices, a local producer said on Monday.

Propylene prices were presently pegged at $1,227/tonne DEL (delivered), he added.

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.

US polymer grade propylene (PGP) for February settled down 3 cents/lb to 59.50 cents/lb, in the first drop for monthly contracts since September 2007 on softening demand and lower feedstock costs.

March contract price was nominated at $1,200/tonne DEL, with a confirmation expected later in the month.

By: Kew Jia Hui
+65 6780 4359

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