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Updated to Q4 2016
Spot import prices for propylene oxide (PO) in China peaked in early October in line with the surge in domestic prices. Thereafter, average import prices tumbled by 35% over a short span of one month to pre-upsurge levels in H1 July at $1,100/tonne CFR (cost & freight) China on 4 November, before stabilising and moving sideways within a narrow range until H1 December.
China domestic prices also fluctuated during the quarter, plunging from its peak in mid-October by a cumulative 36%, or yuan (CNY) 5,000/tonne in absolute terms, to reach CNY8,900/tonne DEL (delivered) China on 4 November. Prices subsequently rebounded to CNY10,425/tonne DEL China on 9 December.
Domestic prices slumped despite reduced supply from output cuts due to ongoing environmental checks at Shandong plants in October. This was because buyers’ concerns over prolonged supply disruptions from the checks were largely unfounded, with most plants having resumed normal operations by November. Moreover, the excessive increase in domestic prices of toluene di-isocyanate (TDI) in October had curbed the demand for downstream polyols from foam makers. TDI and polyols are the two main components used in the production of polyurethane (PU) foam.
ICIS provides pricing information, news and analysis for all major petrochemical and chemical markets, including Propylene oxide.
We offer unbiased and independent price reporting, with our price assessments being widely quoted as benchmarks in contracts.
Our information is collected from market participants by our global network of reporters, delivering unrivalled coverage of established and emerging markets, including China and Asia.
ICIS price assessments are based on information gathered from a wide cross section of the market, comprising consumers, producers, traders and distributors. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments, giving you a robust reference for your negotiations.
ICIS collects pricing data on a wide range of chemical, energy and fertilizer products, including Propylene oxide. Our extensive experience in price reporting means we can offer you access to historical data dating back more than 20 years for certain commodities.
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ICIS price assessments are based on information gathered from a wide cross-section of the market, comprising consumers, producers, traders and distributors from more than 250 reporters world-wide. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments.
Our in-depth market knowledge drives our specialist focus, as we recognise the importance of individual market dynamics and not a one-size-fits-all approach.
Over 25 years of reporting on key chemicals markets, including Propylene oxide, has brought global recognition of our methodology as being unbiased, authoritative and rigorous in preserving our editorial integrity. Our global network of reporters in Houston, London, Singapore, Shanghai, Guangzhou, Mumbai, Perth and Moscow ensures unrivalled coverage of established and emerging markets.