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Propylene prices bolster higher in Asia

Petrochemical industry | 15 May 2021 08:30 IST | Polymerupdate.com

This week, propylene prices leapt higher in Asia. The sharp price rise was on the back of bullish upstream energy values and tight product availability in the region.

On Friday, CFR China propylene prices were assessed at the USD 1130-1135/mt levels, a spike of USD (+40/mt) from last week. FOB Korea propylene prices were assessed at the USD 1100-1105/mt levels, a sharp week on week increase of USD (+45/mt).

CFR Taiwan prices were assessed at the USD 1140-1145/mt levels, a week on week surge of USD (+50/mt). FOB Japan prices were at the USD 1080-1085/mt levels, while CFR South East Asia propylene prices were assessed at the USD 1085-1090/mt levels, both up USD (+25/mt) from the previous week.

In plant news, Lotte Chemical is in plans to undertake a planned shutdown at its in mid-May 2021 for a maintenance turnaround. The cracker is expected to remain off-line for about 35-40 days. Located at Daesan in South Korea, currently, the cracker has an ethylene capacity of 1.1 million mt/year and propylene capacity of 540,000 mt/year.
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