Petrotahlil - On Tuesday, despite weaker upstream costs, propylene prices inched higher in Asia.
The price rise was supported by tight product availability in the region.
FOB Korea propylene prices were up at the USD 835/mt levels, a day on day increase of USD 5/mt.
CFR China propylene prices were higher at the USD 875/mt levels, a rise of USD 5/mt from Monday's assessed levels.
In plant news, Formosa Petrochemical Corporation (FPCC), has shut its No.3 cracker on August 11, 2020, for a maintenance turnaround. The cracker is expected to remain off-line till end-September, 2020. Located at Mailiao in Taiwan, the No. 3 cracker has an ethylene production capacity of 1.2 million mt/year and propylene production capacity of 600,000 mt/year.
In other plant news, Sinopec Zhongyuan Petrochemical, is in plans to bring on-stream its cracker by mid-September 2020. The cracker was shut for a maintenance turnaround on August 1, 2020. Located at Henan in China, the cracker has a ethylene capacity of 220,000 mt/year and propylene capacity of 95,000 mt/year.
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Source : PU