SINGAPORE (ICIS)--Domestic propylene oxide (PO) prices in northern China increased slightly on Thursday from the start of the week amid raised offers by some producers in Shandong, market source said.
Domestic prices were indicated at around CNY 11,750-11,900/tonne ($1,895-1,919/tonne) DEL (delivered) north China on cash payment terms on Thursday, market sources said.
This marks a slight increase compared to domestic prices indicated at CNY11,700-11,850/tonne DEL north China at the beginning of this week.
The price hike initiatives reflected Shandong suppliers eagerness to improve squeezed margins, market participants said.
This week’s price hike efforts were preceded by a broad-based reduction of run rates by several Shandong producers since two weeks ago, they added.