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Plant closures lead to spurt in prices of Propylene
03
Apr '09
In the beginning of the month of April, propylene prices in Korea have spurted by US $65 per ton. This came on the back of an ascent in propylene prices in the last week of March 2009.

Propylene prices which were prevailing at $720 per ton in the beginning of the last week of March in Korean market rose sharply to $810 per ton by the end of the month, up $90 per ton.

Today, Propylene is being quoted at $875 per ton in Korean markets, which is higher by $65 per ton from its March closing price and is quoted at $935 per ton in Southeast Asian markets.

As per the latest information received by fibre2fashion, price of Propylene in South Korean market is near by $935 per ton for deliveries in the second half of April.

For this market condition, market experts are squarely blaming shutdown at Secco's steam cracker and shutdown at Chinese cracker Sinopec Qilu which is state owned company.

In the Northeast Asian region availability of Propylene was further curtailed when another CPC Corp put its cracker offline following poor margins in Ethylene.

News has also been confirmed that Indonesia based Pertamina has shut its propylene plant at Java following a technical problem and date of restart is yet to be announced.

Fibre2fashion News Desk - India

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