Downstream markets set direction of spot propylene in Asia, Europe
Spot propylene prices in Europe rose around €65/ton over the past week to be currently reported at around €735/ton FD NWE in line with the firming PP market while the sentiment in the Asian propylene market turned soft recently given the softening prices in the downstream market, declining by around $25/ton to $840/ton FOB Korea during the same period.
Meanwhile, higher propylene costs in Europe are also supported by the upcoming cracker shutdowns in the March-May period of this year. According to ChemOrbis Production News, Borealis’ 480,000 ton/year PDH plant at Kahlo, Belgium will be offline as of mid-January for a six-week turnaround while Dow Chemical will shut its 680,000 tons/year cracker in the February-April period for 45 days for maintenance.
In addition, Total, Sabic, ExxonMobil and OMV are also mulling to shut their crackers for a scheduled maintenance in the March-May period.
You can visit ChemOrbis PP Production News in order to track capacity changes around the world at a glance and keep on top of new capacity additions.
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