Propylene prices in Asia plummeted last week.
A tumble in downstream prices of PP, a tumble in upstream naphtha rates, sluggish buying trends and ample avails, wielded sharp downward pressure on spot propylene values.
On Friday, although prices gained on the day, FOB Korea propylene prices were assessed at the USD 690/mt levels, a plunge of USD 100/mt on the week. CFR China prices of propylene were assessed at the USD 725/mt levels, a steep slide of USD 105/mt from the previous week.
CFR South East Asia prices of propylene were assessed at the USD 675/mt levels, a sharp week on week tumble of USD 100/mt.
In plant news, Yantai Wanhua started its new propane dehydrogenation (PDH) plant in the 2nd week of August 2015. Located in Shandong, China, the PDH plant has a propylene production capacity of 750,000 mt/year.
In other plant news, Hyosung Corp commenced commercial production at its new propane dehydrogenation (PDH) unit, mid- 2nd week of August 2015. Located in Ulsan, South Korea, the PDH unit has a propylene production capacity of 300,000 mt/year.
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