22 March 2010 04:29 [Source: ICIS news]
“Propylene prices are already highly valued and PP (polypropylene) is weak,” said a Korea-based olefins trader.
NOC – ?xml:namespace>
Propylene spot prices fell $20/tonne (€14.8/tonne) to $1,240-1,300/tonne CFR (cost and freight) northeast
The prices were basically near parity with PP flat yarn values, which were assessed at $1,250-1,330/tonne CFR China over the same period, based on the same data.
This indicated that margins for PP makers remained in the red as the typical propylene-to-PP spread was estimated at around $150/tonne, market sources said.
Separately, NOC’s upstream 460,000 tonne/year naphtha cracker in Kawasaki was expected to be taken off line on 21 April for around 19 days for some repairs, said the company source.
($1 = €0.74)
To discuss issues facing the chemical industry go to ICIS connect
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections