Asian spot propylene regains premium over ethylene for first time since 2013
Spot ethylene prices on CFR Far East Asia basis last traded at a discount to propylene in November 2013, according to data from ChemOrbis Price Wizard.
The ongoing shortage of domestic supply was cited among the factors driving the propylene prices up while a growing supply glut pulled the spot ethylene prices further down in Asia.
The premium of Asian spot ethylene prices began to tail off in August as spot prices started to weaken to hit a 15-month low amid ample inventories and muted trading activities.
On the other hand, spot propylene prices on FOB Korea basis moved up to their highest levels since October 2014, with support from the limited regional availability.
In plant news, South Korea’s YNCC and the Chinese SECCO began maintenance works at their propylene units earlier this month. Both units are expected to remain offline until next month.
To track the most updated PP production news, please see PP Production News (For members only)
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Low overseas supplies prop up import PP prices in China
- Vietnam’s local PP, PE markets resume firming; LLDPE fails to catch up
- Are European ethylene contracts heading for 3rd straight month of hikes?
- Taiwanese major’s May PVC offers to Asia see larger-than-expected drops
- Asian ABS sellers renew confidence in shadow of volatile styrene
- Bullish run loses steam in Turkey’s PP, PE markets
- Tepid demand caps larger PP hikes in Europe, PE fares better
- Asian PET markets drift higher after explosion at Formosa’s plant
- Will turnarounds eliminate oversupply in China’s local PP market?
- European ABS faces large hikes on heels of costs