Propylene prices declined marginally across markets by 3-6%. Propylene prices traded at US$1214.20 per metric ton FOB Korea, down 3% as compared to previous year. As compared to the corresponding period last year prices were down by 12.8%.
Acrylonitrile prices tumbled in Asian market amid falling demand. Demand was hard to improve in downstream sectors as acrylic fibre market was operating at 70% while the ABS market was range bound amid ongoing turnarounds and poor demand. In US, acrylonitrile export prices dropped to a seven month low on lower propylene contract prices. Acrylonitrile was traded at US$1,573 per metric ton CFR China, down 12% as compared last month.
Acrylic staple fibre prices were down as sentiments softened tracking low settlements of major suppliers in China. Downstream yarn makers were running below 50% capacity and remained cautious about feedstock purchase in view of lower settlements at the month end. In China, acrylic staple fiber prices dropped by 8.57% and traded at US$2.56 per kg CIF China.