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Downtrend for propylene continues in Asia despite maintenance season

by ChemOrbis Editorial Team -
  • 06/03/2018 (04:05)
Spot propylene prices in Asia have been mostly following a decreasing trend for the past five weeks after hitting a more than three-year high as the data from ChemOrbis Price Wizard reveal. The weekly average of spot prices on FOB Korea basis has recorded a cumulative drop of $55/ton since the downtrend started in late January. The recent decreases came despite the start of a heavy maintenance season in the region.

A good number of crackers and PDH units in China, South Korea, Japan and Taiwan are scheduled to be shut for maintenance in the February-April period, which is supposed to exert upward pressure on propylene in Asia. However, players note that the spot market has defied the maintenance season so far and maintained its softening path given ample supplies in China where demand is reported to be lukewarm.

“Several PP producers across Asia either shut their plants or reduce operating rates nowadays due to negative margins or maintenance work. Hence demand for propylene has failed to improve,” some opined.

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