Views: 0 Author: Site Editor Publish Time: 2019-02-01 Origin: Site
Source: China Petrochemical News Network January 28, 2019
Xinhua News Agency reported on January 25 that the strong growth of US production continued to drag down the contract price of propylene in January, and the market is expected to continue to face downward pressure in the short term.
At the end of 2018, U.S. propylene contract prices fell due to increased production of propylene from crackers, refineries and other sources, as well as the end of year destocking that limited demand. At the end of 2018, U.S. propylene inventories rose to a three-year high.
Entering 2019, due to increased demand for replenishment of downstream stocks, coupled with recent price declines, has increased interest in propylene derivatives exports. It was originally expected that tighter supply will bring some upward pressure on pricing.
Despite the increase in demand, strong production in January exceeded the growth rate of demand. Propylene stocks continued to increase in 2019, reaching the highest level in seven years.