prime element that bolstered the US propylene prices to reach record high
levels during Q1 2012 was not the conventional factors such as the feedstock
dynamics, cracker turnarounds or downstream demand but was the phenomenon of
increased alkylation value in the US.
is the process of producing alkylates from refinery grade propylene and is
highly dependent on gasoline premium price as higher gasoline prices will
incentivize the refiners to push propylene for alkylation during high alky netback
period. Higher the alky value, higher is the probability of the refinery grade
propylene getting diverted for alkylation rather than polymer grade propylene
production. This in turn will lead to a supply constraint in the polymer grade
propylene in the US and will eventually lead to a price increase in the region.
is a major alternative use for refinery grade propylene and is the process of
producing alkylates from refinery grade propylene to help gasoline become clean
values are poised to make further gains during Q3 2012 following expected gains
in US gasoline prices. This may exert a pressure on the US propylene prices
during Q3 2012.
About the Author:
Silpa Naiju is a
Research Analyst (Petrochemicals & Fibers) at the Bereo Inc.
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