Petrotahlil :On Thursday, propylene prices in Asia edged lower. Reports of bearish buying sentiments in key markets like China and sufficient product availability, together pulled propylene prices lower in Asia.
Weaker downstream PP demand trends, further supported the price fall.
FOB Korea prices were assessed down at the USD 905/mt levels, a fall of USD 5/mt from Wednesday’s assessed levels.
CFR China prices of propylene were assessed lower at the USD 925/mt levels, a day on day drop of USD 5/mt.
In plant news, Formosa Petrochemical Corporation (FPCC) has restarted its No. 2 cracker, on October 7, 2019. The cracker was shut owing to technical issues in mid-August, 2019. Located at Mailiao in Taiwan, the No. 2 cracker has an ethylene production capacity of 1.03 million mt/year, propylene production capacity of 520,000 mt/year and butadiene production capacity of 162,000 mt/year.
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