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(ICIS) -- China’s propylene spot prices
may not increase further as the buying sentiment in the country remains weak
amid worries over the global economy and volatile feedstock crude prices, market
sources said on Thursday.
The European debt crisis and the prospect of a double-dip recession in
the US may affect the demand for finished goods from China, which is the world’s
largest manufacturing hub, the sources said.
Chinese producers use petrochemicals to produce a wide range of consumer
items from toys to textiles, which are exported to Europe and the US. The
weakening demand from these key markets will have a significant impact on the
supply chain, the sources added.
Offers and selling ideas for propylene cargoes arriving in September
hovered at around USD 1.600/tonne (EUR 1.104/tonne) CFR (cost & freight)
China this week, but this was met with weak interest from end-users who
preferred to stay on the sidelines.
mrcplast.com
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