Propylene prices witness a rise in Asia

Propylene prices edged higher in the Asian region on Thursday.

An industry source in Asia on condition of anonymity informed a Polymerupdate team member, "Prices were assessed higher on account of bullish energy values coupled with improved buying sentiments in the Asian region."

On Thursday, FOB Korea propylene prices were assessed at the USD 830-840/mt levels, a gain of USD (+5/mt) from Wednesday.

CFR China propylene prices on Monday were assessed at the USD 865-875/mt levels, up USD (+5/mt) from Wednesday's assessed levels.

In plant news, Ningxia Baofeng Energy is likely to shut down its Polypropylene (PP) units for maintenance in end July 2024. Further details on the duration of the shutdown could not be ascertained. Located in Yinchuan, Ningxia in China, the three PP units have production capacities of 300,000 mt/year, 330,000 mt/year and 500,000 mt/year respectively.