Petrotahlil - On Thursday, sluggish buying sentiments and weaker downstream PP demand and pricing trends, pulled propylene prices lower in Asia.
FOB Korea propylene prices were at the USD 670/mt levels, a day on day fall of USD 15/mt. CFR China propylene prices were at the USD 685/mt levels, a drop of USD 10/mt from Wednesday's assessed levels.
In plant news, Lotte Chemical, South Korea has undertaken an emergency shutdown at its Deasan cracker, following a blast reported on early Wednesday. The cracker has an ethylene capacity of 1.1 million mt/year and propylene capacity of 540,000 mt/year.
In other plant news, JXTG Nippon Oil and Energy, has undertaken a planned shutdown at its cracker, on February 27, 2020. The cracker is likely to remain under maintenance for a period of around 6-7 weeks. Located at Kawasaki in Japan, the cracker has an ethylene production capacity of 460,000 mt/year and propylene production capacity of 235,000 mt/year.
Tosoh Corp, has undertaken a maintenance shutdown at its naphtha cracker on March 4, 2020. The cracker is expected to remain under maintenance till April 21, 2020. Located at Yokkaichi in Japan, the cracker has an ethylene production capacity of 527,000 mt/year and a propylene production capacity of 315,000 mt/year.
Follow us on twitter @petrotahlil