In Asia, spot prices for propylene went up sharply during the past week as prices gained $60/ton on an FOB Korea basis. Coupled with other recent jumps, the price has risen in the triple digits in dollar terms—about $125 per ton—since the beginning of February.
This pricing update is according to ChemOrbis (Istanbul, Turkey), which shared its findings with PlasticsToday. Why the sharp increases? Planned plant shutdowns are partly to blame, as well as unplanned shutdowns. The result of both has been spot propylene prices that are at heir highest level since September 2008. One unplanned shutdown was Yeochun NCC’s steam cracker in South Korea, with 485,000-tons/yr capacity, which was shut due to a power failure early last week. The company had originally planned to restart the cracker on Feb. 24 but had to pass due to furnace damage, according to ChemOrbis. The pricing service has heard that the company is planning to restart the cracker partly over the weekend, but the operating rates will remain around 60% of capacity. ...