Propylene Asia

摘要

Asian propylene rose this week amid tight regional supply and stronger domestic China prices. The domestic price in China was heard to be around Yuan 7,100/mt on Monday, but by Friday had gone up to around Yuan 7,400-7,500/ mt, or around $1,009.95-$1,023.78/mt on an import parity basis, said trade sources. The firmer domestic market in China saw bids on a CFR China basis rise to around $1,000/mt, while offers also climbed. Still, a source noted that downstream requirements for imported cargoes were less urgent, and as such deals were limited. The CFR China propylene price rose $7/mt week on week to $1,002/mt. On the supply side, Taiwanese producer CPC shut its 80,000 b/d residue fluid catalytic cracker last Friday because of technical problems. The unit, which can produce 450,000 mt/year of propylene, is slated to restart on June 17. Also in Northeast Asia, Japanese producer Idemitsu Kosan plans to restart its ethylene and propylene production in Tokuyama on June 19. The company had shutdown part of its naphtha-fed steam cracker earlier.