Despite bearish upstream crude and naphtha values, propylene prices gained in Asia, on Tuesday. The price rise was supported by improved buying sentiments in key markets like China, following reports of some ease on the transport ban.

Reports of limited product avails, further supported the price gain.

FOB Korea propylene prices were assessed up at the USD 795/mt levels, while CFR China propylene prices were assessed at the USD 805/mt levels, both up USD 20/mt from last Friday’s assessed levels.

In plant news, Tosoh Corp, is likely to undertake a maintenance shutdown at its naphtha cracker on March 5, 2020. The cracker is expected to remain under maintenance till April 20, 2020. Located at Yokkaichi in Japan, the cracker has an ethylene production capacity of 527,000 mt/year and a propylene production capacity of 315,000 mt/year.

In other plant news, PTT Global Chemical (PTTGC), is likely to restart its No. 2 cracker, by end-February 2020. The cracker was shut for a maintenance turnaround on January 20, 2020. Located at Map Ta Phut, Thailand, the No. 2 cracker has an ethylene production capacity of 400,000 mt/year.

PTT Global Chemical (PTTGC), shut its No. 1 cracker on January 23, 2020 for a maintenance turnaround. The cracker is expected to remain under maintenance for about 6 weeks. Located at Map Ta Phut, Thailand, the No. 1 cracker has an ethylene production capacity of 515,000 mt/year and a propylene production capacity of 295,000 mt/year.