PROPYLENE PRICES MARCH HIGHER IN ASIA

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

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