Published On: Tue, Aug 2nd, 2016

Propylene prices edge lower in parts of Asia

Propylene prices witnessed a drop in some parts of Asia last week.

On Friday, CFR South East Asia prices of propylene were assessed down at the USD 695/mt levels, a week on week fall of USD 10/mt. CFR China prices of propylene were assessed at the USD 740/mt levels, a decline of USD 5/mt from the previous week. Prices dropped mainly on account a sharp fall in upstream energy values and softer buying action witnessed in the region.

PP prices

Propylene prices edge lower in parts of Asia

FOB Korea propylene prices were assessed flat from last week at the USD 700/mt levels while CFR Taiwan prices of propylene were stable at the USD 745/mt levels.

In plant news, Formosa has shut its cracker on July 29, 2016 for a maintenance turnaround. The cracker is likely to remain shut for around 45-50 days. Located at Mailiao, Taiwan, the cracker has an ethylene capacity of 1.3 mmt/year and propylene capacity of 515,000 mt/year.

In other plant news, Shell has resumed production at its cracker in the 2nd week of July 2016. The company halted operations at its cracker in end-November 2015. The cracker was taken offline owing to a technical glitch. Located at Bukom Island in Singapore, the cracker has an ethylene production capacity of 960,000 mt/year and propylene capacity of 540,000 mt/year.

Mitsubishi Chemical has restarted its cracker on July 14, 2016. The cracker was taken off-stream for planed maintenance on May 9, 2016. As per the original schedule, the cracker was to resume production in early-July 2016. 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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