Asian propylene market in July 2016 ran stable-to-rise

Asian propylene market in July 2016 ran stable-to-rise, with market close on July 28th at USD705/mt FOB South Korea and USD750/mt CFR China, both gain 6 dollars/mt from early July. Early the month, backed on well profit, PP producers were running at favorable utilisation rate. Futures market arouse an uptrend of spot market. Chinese Bohai Chemicals Group's PDH unit was still in shutdown, and the imported cargoes' price accordingly ran high. However, RMB's appreciation was stirring among some trader.

Afterwards, Chinese import market began sliding in spot price due to shock of crude oil market and fluctuation of PP futures market. Some market players lack of confidence as the rising demand for PP spot goods would not last long yet with not so strong performance. Coming to the end July, G20 Summit would push part of East China's producers to shut down their units in hope of assurance of improving air quality, followed by shutdown among downstream users. Therefore, August import discussion is going downward. Spot market trade was not so well as some sentiment against it came into influence. Oilchemdata forecast next month the trade discussion ......

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