NewsFlashChina PO hits record CNY18,000/tonne

12 June 2008 09:02  [Source: ICIS news]

SINGAPORE (ICIS news)--Chinese propylene oxide (PO) prices hit a record high of yuan (CNY)18,000/tonne ($2,601/tonne) on Thursday, propelled by soaring feedstock propylene values, sellers and buyers said.

Prices had spiked CNY1,900/tonne from levels last Friday to CNY17,600-18,000/tonne DEL (delivered), the sixth consecutive week of increase, according to global chemical market intelligence service ICIS pricing.

The jump in prices was faster and greater than producers and end-users had anticipated with many saying they expected further upside.

($1 = CNY6.92)

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By: Hsin Hun Wan
+65 6780 4359

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