Downtrend for propylene continues in Asia despite maintenance season
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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