On Wednesday, propylene prices in Asia posted modest gains, buoyed by a more confident market outlook even as energy values continued to face downward pressure.
An industry source in Asia told a Polymerduniya team member, “Propylene prices in Asia rose slightly, supported by optimistic market sentiment, despite energy values facing pressure. Even with a drop in upstream crude oil and naphtha prices, participants in the propylene market showed greater confidence, fuelled by predictions of reduced supply and enhanced downstream demand.”
FOB Korea propylene prices were assessed at USD 730-740/mt, marking a USD 5/mt increase compared to Tuesday. Similarly, CFR China prices climbed to USD 765-775/mt, also reflecting a day-on-day rise of USD 5/mt.
The marginal uptick reflects a resilient outlook within the propylene market, despite headwinds from weakening crude and naphtha benchmarks.
