PROPYLENE PRICES JOURNEY NORTHWARDS IN ASIA ON TUESDAY
On Tuesday, propylene prices witnessed a steep rise in Asia. Prices firmed, mainly on account of bullish buying trends, coupled with stronger downstream PP prices in major markets like China.
FOB Korea propylene prices were up at the USD 665/mt levels, a day on day surge of USD 55/mt.
CFR China propylene prices were higher at the USD 720/mt levels, a spike of USD 55/mt from Monday's assessed levels.
In plant news, Lotte Chemical Titan, resumed operations at its naphtha cracker in early-April, 2020 following a planned outage. The cracker remained off-line for about one month. Located in Pasir Gudang, Malaysia, the cracker has an ethylene capacity of 522,000 mt/year and propylene capacity of 360,000 mt/year.
In other plant news, Sinopec Zhenhai Refining and Chemical, has taken its 350,000 mt/year No. 3 Polypropylene (PP) unit off-stream on April 7, 2020 for a maintenance turnaround.
Ochai : Promoter is Lotte Chem and local Funds who are the main shareholders. Not anyone here in this forum la. You better go back to your Hibiscus and Dayang forum and spam there
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