UpdateAsia spot propylene falls to near 3-year low

10 October 2008 08:21  [Source: ICIS news]

(Adds details on deal cargo in paragraphs 4-5)

 

SINGAPORE (ICIS news)--Asian spot propylene has fallen more than $100/tonne to $910/tonne  in the space of a week, almost hitting a three-year low on weak demand and falling crude prices, market sources said on Friday.

 

Values were priced on cost and freight (CFR) Taiwan basis.

 

The last time prices were assessed at a low of $910/tonne CFR NE Asia (northeast Asia) was on 23 December 2005 according to global chemical market intelligence service ICIS pricing.

 

The 1,500-tonne cargo was heard to be for early November delivery sold by an unidentified trader.

 

Although spot supplies have been relatively tight, spot prices continued to slide due to short selling activity, added sources.

 

For more on propylene visit ICIS chemical intelligence

To discuss issues facing the chemical industry go to ICIS connect

 

By: Steve Tan
+65 6780 4359

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