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Acrylic chain: propylene prices again for 7 consecutive weeks

Acrylic chain: propylene prices again for 7 consecutive weeks Source:
Date: 12-02-2013
Visits: 230
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Asian propylene prices jumped on an active CFR China market amid tight supply ahead of the Lunar New Year holidays. In US, spot refinery-grade propylene was stable despite refinery operating rates while RGP spot market was still talked tight by market participants.
Acrylonitrile markets saw spot shortness relieved by new capacities, and thus upward trend was limited. Trading atmosphere was calm as Lunar New Year approached though inventories were low. In China, sentiment rolled over at high levels as players left market for holiday, thus weakening trading atmosphere. European spot acrylonitrile prices remained steady with firm bids and scarce offers while US acrylonitrile export price climbed as the market continued to track higher propylene.
Acrylic staple fiber markets were stable and producers continued to peg listed prices for early February steady. Despite high cost pressure, market activity remained thin with Spring Festival on. Prices were seen lifted in Pakistan on cost pressure while Indian markets rolled over previous week’s prices.
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