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Propylene prices gain in Asia

09 Jul 2024 08:30 IST
Despite a drop in energy values, propylene prices quoted higher in Asia on Monday.

An industry source in Asia informed a Polymerupdate team member, “Prices experienced gains on account of improved buying sentiments in the Asian region."

CFR China propylene prices on Monday were assessed at the USD 875-885/mt levels, up USD (+5/mt) from Friday’s assessed levels.

Meanwhile, FOB Korea propylene prices on Monday were assessed at the USD 845-855/mt levels, an increase of USD (+10/mt) from Friday.

In plant news, Sinopec Guangzhou Petrochemical is likely to shut its Polypropylene (PP) unit for maintenance on August 10, 2024. The unit is slated to remain offline for about two weeks. Located in Guangzhou, Guangdong in China, the PP unit has a production capacity of 200,000 mt/year.