Propylene prices quote lower in Korea

On Monday, propylene prices edged lower in Korea while remaining stable in China.

FOB Korea propylene prices on Monday were assessed at the USD 845-855/mt levels, a fall of USD (-5/mt) from Friday. An industry source in Asia informed a Polymerupdate team member, “Prices were assessed lower on account of sluggish regional buying sentiments."

Meanwhile, CFR China propylene prices on Monday were assessed at the USD 870-880/mt levels, rolled over from Friday’s assessed levels.

In plant news, Hyundai Chemical is likely to cut run rates at its cracker to around 65% of production capacity levels in August 2024. The reason behind the production cut could not be ascertained. Located in Daesan, South Korea, the cracker has a propylene production capacity of 500,000 mt/year.