The Urethane Blog

Asian Propylene Update

Propylene prices journey southwards in Asia on Thursday

Petrochemical industry | 29 May 2020 08:30 IST | Polymerupdate.com

 

Propylene prices down adjusted in Asia on Thursday. Reports of weaker demand trends in major markets like China, coupled with a fall in upstream crude and naphtha values, together supported the price drop.

FOB Korea propylene prices were down at the USD 715/mt levels, a day on day decline of USD 10/mt.

CFR China propylene prices were lower at the USD 760/mt levels, a drop of USD 10/mt from Wednesday’s assessed levels.

In plant news, Sinopec SABIC Tianjin Petrochemical, has taken off-stream its naphtha cracker, on May 9, 2020, for a maintenance turnaround. The cracker is likely to remain under maintenance for about two months. Located at Tianjin, China, the cracker has an ethylene production capacity of 1 million mt/year and propylene capacity of 540,000 mt/year.

In other plant news, BASF-YPC has undertaken a planned shutdown its naphtha cracker, on April 30, 2020. The cracker is expected to remain under maintenance till mid-June, 2020. Located in Jiangsu, China, the cracker has an ethylene capacity of 750,000 mt/year and propylene capacity of 400,000 mt/year.

https://www.polymerupdate.com/news/pp/29May2020/1061528/propylene-prices-journey-southwards-in-asia-on-thursday
For comparison purposes, U.S. chemical grade just settled at $0.245/lb or $540/mt