Propylene prices fall in China

Propylene prices quoted lower in China while remaining stable in Korea on Monday.

CFR China propylene prices on Monday were assessed at the USD 865-875/mt levels, a drop of USD (-5/mt) from Friday’s assessed levels. An industry source in Asia informed a Polymerupdate team member, “Prices fell due to weak buying sentiments in the region."

Meanwhile, FOB Korea propylene prices on Monday were assessed at the USD 830-840/mt levels, stable from Friday.

In plant news, Ningxia Baofeng Energy has shut down its Polypropylene (PP) units for maintenance. 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.