Polypropylene Asia

摘要

Asian polypropylene prices plunged this week, entirely erasing last week’s gains. PP raffia/injection grade was assessed at $1,555/mt CFR Far East Asia Wednesday, down $45/mt week on week, following sharp falls in the energy complex that began last Friday. Upstream, front month ICE Brent futures plunged $10.32/barrel week on week to $105.34/b at 4:30 pm Singapore time (0830 GMT), while naphtha tumbled $86.25/mt over the same period to be assessed below the $900/mt CFR Japan support level at $896.75/mt CFR Japan. Similarly, feedstock propylene nosedived $100/mt from last Wednesday to be assessed at $1,491/mt FOB Korea as buying appetite from China for spot propylene cargoes disappeared after Tuesday’s slide in Western crude oil futures. In Northwest Europe, spot PP and polyethylene buyers in Northwest Europe retreated from the market as global markets crumbled, traders said.