Asian Propylene Climbs
Asian propylene prices climb on Thursday
Propylene prices edged higher in Asia on Thursday. The price gain was in line with bullish upstream crude and naphtha values.
Reports of limited product availability further supported the price rise. FOB Korea prices of propylene were assessed up at the USD 700/mt levels, a rise of USD 5/mt from Wednesday’s assessed levels. CFR China prices were assessed higher at the USD 735/mt levels, a day on day increase of USD 5/mt.
In plant news, Hyosung Corp has taken off-stream its propane dehydrogenation (PDH) plant on April 21, 2016. The plant is likely to remain shut for around 4-5 weeks. Located in Ulsan, South Korea, the plant has a propylene production capacity of 300,000 mt/year.
In other plant news, Lotte Chemical has shut its naphtha cracker for a maintenance turnaround on April 11, 2016. The cracker is expected to restart production in early May 2016. Located at Yeosu, South Korea, the cracker has an ethylene capacity of 1 mmt/year and propylene capacity of 480,000 mt/year. – See more at: https://www.polymerupdate.com/blog/plastic-news/2016-04-29-Asian-propylene-prices-climb-on-Thursday.
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