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Propylene prices down adjust in Asia on Tuesday

Petrochemical industry | 11 Jul 2018 09:00 IST | Polymerupdate.com

Propylene prices in Asia slipped on Tuesday. Reports of sluggish buying interest coupled with bearish downstream PP demand and pricing trends together pushed prices lower in Asia.

FOB Korea prices were assessed down at the USD 1035/mt levels, a day on day fall of USD 20/mt.

CFR China prices of propylene were assessed lower at the USD 1055/mt levels, a decline of USD 10/mt from Monday’s assessed levels.

In plant news, Petronas Chemicals has commenced turnaround at its 400,000 mt/year cracker, located in Kerteh, Malaysia, on July 1, 2018. The cracker will remain shut for a period of around six weeks.

In other plant news, Formosa Petrochemical Corporation (FPCC) is likely to restart its No.3 cracker on July 17, 2018. The cracker was shut for a maintenance turnaround on June 5, 2018. Located at Mailiao in Taiwan, the No. 1 cracker has an ethylene production capacity of 700,000 mt/year, propylene production capacity of 350,000 mt/year and butadiene production capacity of 109,000 mt/year.

Mitsubishi Chemical has resumed production at its cracker on July 3, 2018. The cracker was shut on May 9, 2018 for a planned maintenance. Located at Kashima in Japan, the cracker has an ethylene production capacity of 540,000 mt/year and a propylene capacity of 260,000 mt/year.
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