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Propylene prices surged in Asian markets

April 11/2012

(yarnsandfibers) -- Propylene prices surged in Asian markets amid mixed sentiment and tight supply. Downstream acrylonitrile market remained firm supporting propylene market. US spot propylene assessments were at roughly nine-month high to close the shortened week while in Europe, demand for spot propylene supply in Northwest Europe was scarce as many industry players were away on Easter break.

Acrylonitrile prices remained flat across all regions as participants stayed on the sidelines amid uncertainty over the market's direction. During the Tomb-sweeping Day holiday, spot trade was mute in China and liquidity at producers was slow on limited demand. In US, spot acrylonitrile assessments remained unchanged for a second week as traders awaited direction from feedstock April propylene contracts. European spot prices were steady as many industry players were either sidelined ahead of the long Easter break.

Acrylic fiber markets saw thin trades on weak demand from the downstream. However, offers and spot discussions remained flat amid balanced fundamentals.
Author:Anna Larionova
Category:General News
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