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Acrylic chain: propylene at 9-month high

Acrylic chain: propylene at 9-month high Source:
Date: 19-02-2013
Visits: 250
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Propylene prices in Asia remained flat in China and Taiwan as the markets were shut for holidays, but rose in other regions as traders took long positions. In US spot propylene was down in turbulent markets which pulled down by lower PGP bids. In Europe, propylene prices were up tracking Asian markets.
With propylene prices hitting a 9-month high, Asian acrylonitrile prices moved upwards in Far East while markets in China were still to warm up as players were yet to fully return with domestic markets opening on an insipid note. Producers maintained flat indications, while supported by firm feedstock values as well as tight supply, with signs of price hike. In US, acrylonitrile export prices gained as supply was heard tightening and acrylonitrile continued to follow feedstock propylene.
Acrylic staple fiber markets saw producers raising offers as the market reopened after the Spring Festival holiday. However, the markets were quiet during the holiday, but offers remained firm due to strong support from upstream.
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