Asian Propylene Prices Go Into Free Fall

Propylene prices collapsed last week in Asia as sellers desperately sought buyers. Korean prices crumbled to about $640/m.t. fob, Chinese prices dropped to $710/m.t. cfr, and Southeast Asian prices crashed to $740/m.t. cfr., says market reporting firm Polymerupdate. Prices in all three markets were more then $250/m.t. lower than in the prior week. “What we are witnessing in Asian petrochemical prices these days is unprecedented,” a trader says. “It has badly scarred many a market participant, leaving most sellers with colossal losses.”...

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