Propylene Asia

摘要

CFR China propylene rose $15/mt week on week to $995/ mt on higher selling indications and renewed buying interest for July cargoes. There were deals heard done during the latter part of the week and this ranged from $990/mt to $1,005/mt. Although the deals could not be immediately confirmed with the counter parties, most market participants said buying activity was boosted on news of the unexpected shutdown of Ningbo Haiyue’s propane dehydrogenation plant next week for 8-10 days. The PDH unit, which had a glitch, is able to produce 600,000 mt/year of propylene and was heard to be operating at a rate of 50%. Haiyue, however, could not be reached for comment. Before news on Haiyue’s shutdown, offers as well as selling indications from major Northeast Asia traders were heard at $990/mt, however, these increased to $1,000-1,010/mt Friday. Meanwhile, Northeast Asia sources said that Hanwha Total closed a tender late Friday for a 1,500 mt propylene cargo loading in July from South Korea.