Propylene prices gallop higher in Asia
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Propylene prices gallop higher in Asia

On Monday, January 29, 2018 at 09:00 IST

Propylene prices galloped sharply higher in Asia last week. Prices surged mainly on account of constrained product avails owing to planned and unplanned shutdowns coupled with higher upstream energy values.

The price rise was further supported by firmer downstream PP rates.

On Friday, CFR China prices were higher at the USD 1145/mt levels, a steep week on week increase of USD 75/mt. FOB Korea prices of propylene were assessed up at the USD 1075/mt levels, a spike of USD 80/mt from the previous week.

CFR Taiwan prices were at the USD 1150/mt levels, a sharp gain of USD 50/mt on the week. CFR South East Asia prices were assessed at the USD 1025/mt levels, a week on week surge of USD 90/mt.

FOB Japan prices were assessed higher at the USD 1065/mt levels, a steep gain of USD 80/mt from the previous week.

In plant news, SK Global Chemical (SKGC) has undertaken an emergency shutdown at its No. 2 naphtha cracker off-stream.

in other plant news, CPC Corp has further delayed the restart of its No. 4 cracker until end-January 2018 owing to a technical snag. The unit was taken off-line for maintenance in mid-November 2017 and was supposed to resume operations mid-January 2018. Located in Linyuan, Taiwan, the cracker has an ethylene capacity of 380,000 mt/year and propylene capacity of 193,000 mt/year.

Tianjin Bohai has undertaken a planned shutdown at its propane dehydrogenation (PDH) plant, on January 3, 2018. The plant is likely to remain under maintenance for around four weeks. Located in Tianjin, China, the PDH plant has a propylene capacity of 600,000 mt/year.

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