Propylene: Asia

摘要

Prices slipped $10-15/mt from a week ago, as weak oil prices and a looming one-week national holiday in China drove buyers away. Asia’s propylene price curve went into contango, with prompt cargoes becoming heavily discounted compared with parcels to be loaded and/or delivered in the next 20 to 40 days. Until recently, there was little difference in their values. On Friday, talk of a supposed $1,170/mt CFR China deal made its rounds in the market, but no one seemed to have other details of the trade. On Friday, Nippon Oil sold an H2-February parcel at $1,260/mt CFR China (T/T 30 days). Trade was very thin all week, but H2-February buying interest was seen at $1,250/mt CFR China, with selling interest mentioned several times at $1,270/mt.