This week, propylene prices marched higher in Asia. Continued tight product availability across the Asian regions, supported the price rise.
Propylene prices were at the USD 875/mt FOB Korea levels, a rise of USD 10/mt from last week. CFR China propylene prices were assessed at the USD 915/mt levels, up USD 15/mt from the previous week.
CFR South East Asia propylene prices were assessed higher at the USD 865/mt levels, a week on week increase of USD 20/mt.
In plant news, Idemitsu Kosan, has undertaken a planned shutdown at its naphtha cracker, on September 7, 2020. The cracker is likely to complete maintenance by end-October, 2020. Located at Tokuyama, Japan, the cracker has an ethylene production capacity of 690,000 mt/year and propylene production capacity of 110,000 mt/year.
In other plant news, Formosa Petrochemical Corporation (FPCC), is likely to restart its No.3 cracker towards the end of September 2020. The cracker was shut on August 11, 2020, for a maintenance turnaround. 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.
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Source : PU