Propylene prices climb in parts of Asia

Last week, propylene prices witnessed a rise in some parts of Asia while quoting flat in other parts of Asian region.

An industry source in Asia requesting to remain unidentified informed a Polymerupdate team member, “Prices gained in some regions on the back of higher propane feedstock prices.”

The source added, "Overall pricing trends were stable owing to muted trade with most participants attending a key petrochemical industry conference in South Korea.”

On Friday, FOB Korea propylene prices were assessed at the USD 820-830/mt levels, while CFR China propylene prices were assessed at the USD 850-860/mt levels, both higher by USD (+5/mt) from the previous week.

Meanwhile, CFR Southeast Asia propylene prices on Friday were assessed steady at the 825-835/mt levels.

CFR Taiwan propylene prices were assessed at the USD 845-855/mt levels while FOB Japan propylene prices were assessed at the USD 820-830/mt levels, both unchanged week on week.

In plant news, JG Summit Olefins has taken off stream its cracker owing to a power trip caused by a typhoon in end-May 2024. Further details on the duration of the shutdown could not be ascertained. Located in Batangas in the Philippines, the cracker has a propylene production capacity of 240,000 mt/year.

GS Caltex will run its cracker at curtailed capacity levels through June and July 2024. The reason behind the production cut could not be ascertained.” Located in Yeosu, South Korea, the cracker has a propylene production capacity of 430,000 mt/year.

ENEOS Corp has restarted its cracker in end May 2024 following a turnaround. The cracker was shut for maintenance on March 5, 2024. Located in Kawasaki, Japan, the cracker has a propylene capacity of 235,000 mt/year.