Asian propylene prices slipped as demand receded to a small extent from polypropylene and acrylonitrile markets. In Europe, a second August contract price for propylene was settled up Euro 120 from July but some buyers were unhappy with the level considering the factors including economic woes and slow summer conditions in Europe. US spot propylene dropped amid continued weakness.
Asian acrylonitrile prices edged up in quiet trade while overall fundamental changed marginally. Negotiations at high prices were mute and buyers bought as needed. European spot spiked, reflecting the jump in feedstock cost. Acrylic staple fibre prices held firm on cost support and active pre-buying in expectation of further hike in prices. However, there is little sign that end-user demand is kicking in as sales was still sluggish in the yarn market.