06 December 2013 03:04 [Source: ICIS news]
SINGAPORE (ICIS)--Spot propylene prices in Asia rose to a 20-month high this week on the back of strong crude and naphtha values, with further support coming from firm downstream polypropylene (PP) market, industry sources said on Friday.
First-half January shipment deals were heard done at $1,480-1,497/tonne (€1,080-1,093/tonne) CFR NE Asia during the week.
Offers are now being quoted at $1,495-1,500/tonne CFR NE Asia or higher, while buying ideas are at $1,485-1,490/tonne CFR NE Asia.
Similar price levels were last seen in April 2012, according to ICIS.
Tight supply in the key China market is also bolstering domestic prices of the material, market sources said.
($1 = €0.73)
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