Prices stable prices in year-end lull market

Propylene was the driving factor to the operating rates in the downstream facilities in Asian markets this week. Many market participants feel that propylene is going to be limited, and it will not be surprising that the new plants will not going to be able to run at 100%. In US, propylene spot prices jumped after news of plant outage and traded higher on Wednesday amid news of an unplanned outage at a plant in Texas.

Acrylonitrile markets rolled over as downstream lagged behind with growing sidelined stance. In Asia, both favorable and unfavorable factors existed in the market this week, so trades were mute amid heavier wait-and-see stance. However, producers continued to hold firm indications underpinned by low inventory and high costs. Demand was insipid, as buyers were cautious towards buying. Acrylic fibre markets remained stable with firm cost support met with lusterless demand. Buying interest remained stable with buyers satisfied with just-in-time buying, as downstream spinning mills saw low sales/production rate amid the year-end lull.