Propylene Rises in Asia
Propylene prices gained in Asia on Wednesday.
The price rise was supported by gains recorded in upstream energy values, coupled with stronger buying sentiments in key markets like China.
FOB Korea propylene prices were higher at the USD 640/mt levels, a day on day rise of USD 10/mt.
CFR China propylene prices were up at the USD 690/mt levels, a gain of USD 5/mt from Tuesday’s assessed levels.
In plant news, Sinopec Zhenhai Refinery and Chem (ZRCC), has restarted its 1 MMT/year No.1 cracker, located in Zhejiang province of China, on April 21, 2020. following an unplanned outage. The unit was shut owing to technical issues on April 16, 2020.
In other plant news, Hanwha Total Petrochemical, has brought on-stream its cracker, on April 12, 2020. The cracker was shut on April 7, 2020 owing to technical glitch. Located at Daesan, South Korea, the cracker has an ethylene capacity of 310,000 mt/year and propylene capacity of 120,000 mt/year.
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