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Propylene prices tumble in Asia on Thursday

Petrochemical industry | 11 Jun 2021 08:30 IST | Polymerupdate.com

On Thursday, propylene prices drifted sharply lower in Asia. The price fall was prompted by persistent bearish regional buying sentiments and plentiful product availability.

Weaker downstream PP demand and pricing trends further supported the price drop.

FOB Korea propylene prices were at the USD 1005-1010/mt levels, a tumble of USD (-35/mt) from Wednesday's assessed levels.

CFR China propylene prices were assessed lower at the USD 1035-1040/mt levels, a sharp week on week fall of USD (-30/mt).

In plant news, Sinopec Zhenhai Refining & Chemical, has recently bought on-stream its cracker. The cracker was shut for a maintenance turnaround in end-May, 2021. Located in Ningbo, Zhejiang, China, the cracker has an ethylene capacity of 1 million mt/year and propylene capacity of 550,000 mt/year.
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