Propylene prices march higher in Asia

Last week, propylene prices gained in the Asian region.

An industry source in Asia requesting to remain unidentified informed a Polymerupdate team member, "Stronger upstream crude and naphtha values coupled with limited product avails helped the Asian propylene market achieve a sustained pricing uptrend.”

FOB Korea propylene prices were assessed at the USD 805-815/mt levels, while FOB Japan propylene prices were assessed at the USD 835-840/mt levels, both week on week higher by USD (+15/mt).

CFR China propylene prices were assessed at the USD 850-860/mt levels, an increase of USD (+20/mt) from the previous week.

On Friday, CFR Taiwan propylene prices were assessed at the USD 825-835/mt levels, a hike of USD (+30/mt) from the previous week.

CFR Southeast Asia propylene prices were assessed at the 835-845/mt levels, left unchanged from the previous week.

In plant news, Shanghai Secco has restarted its cracker. The cracker was shut around mid-September 2023 owing to a power failure. Located in Caojing, Shanghai, China, the cracker has propylene production capacity of 540,000 mt/year.

In other plant news, Sinochem Hongrun PC has recently restarted its polypropylene (PP) unit. The unit was shut down for maintenance on September 5, 2023. Located in Weifang, China, the unit has production capacity of 450,000 mt/year.