Propylene, Acrylonitrile Prices Down

Asian propylene prices were mixed as uncertainty ruled the market’s future direction. While prices in Korea slide marginally those in Japan fell significantly. European spot market remained limited, but length in supply was developing in certain pockets due to weak demand and bearish outlook for the rest of the year. In US, spot propylene prices climbed as demand for October and November goods remained strong.

Acrylonitrile prices were subdued in Asia heading south given the poor demand and softening upstream propylene prices. Suppliers showed more interest in moving volumes and transaction atmosphere was insipid as buyers kept sidelined amid a cautious stance. Asian acrylic staple fibre markets were losing cost support as acrylonitrile prices softened dramatically. The wait-and-watch sentiment grew thicker and demand remained as lusterless.