Ethylene Glycol:Asia

摘要

Prices dropped $20-30/mt on the week from renewed global economic jitters, which crushed share and commodity prices worldwide. Crude oil futures plunged dramatically over the past week, losing over $6/b. Although polypropylene prices gained $35-50/mt this week in SE Asia and the Indian subcontinent from a week ago, the benchmark China/NE Asia PP market softened in terms of price and trading volume. Resin traders in the mainland were anxious to reduce their long positions, and as oil prices continued to fall buyers stayed away. PP sentiment in SE Asia and South Asia by Friday had cooled considerably as well. Demand for propylene spot cargoes also fell, although consumers continued to take delivery of maximum-term contract volumes to which they were entitled.