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.
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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)
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