Asian propylene prices remained flat as sentiment softened despite rising crude oil prices. In Europe, spot propylene prices gained further ground, bolstered by continued strength in the upstream market. In US, spot refinery-grade was stable as August material was consistently offered against no bids or trades heard and September talks were thin. In Latin America, propylene prices in Mexico were heard mixed in direction.
Acrylonitrile markets in Asia remained range bound at high levels as suppliers held on to volumes and pegged offers high underpinned by firm cost and low inventory. In Europe, firmer upstream and Asian markets continued to propel spot acrylonitrile prices close to a three-month high while US export prices rose on expectations of thinning availability going forward amid steady demand, while supply was tightening heading into September.
Acrylic staple fibre market sentiments held firm in Asia, with suppliers tracking costs and raising offers higher. However, transaction in spot market remained thin due to resistance from downstream buyers. Downstream demand held stable, but sales are unlikely to see substantial improvement as downstream rigid demand remained weak.