LONDON(ICIS)--The European propylene oxide (PO) price has rolled over for February following the feedstock propylene settlement for the same month, sources said on Friday.
The PO price is formula related to 80% of the propylene price movement, pending any freely negotiated business, which were quoted within the current range.
A producer said a tight supply and demand situation in China has given European exporters the opportunity to sell PO and PO derivatives into Chinese export markets such as the Middle East. Milder weather has also led to an unexpected rise in demand from the construction and automotive sectors, the source said.
A second producer said that it had received requests to export to India and China but was unable to fulfil those orders.
The February price remains unchanged from January at €1,538-1,654/tonne FD (free delivered).