Propylene prices in Europe have seen an improvement this week- polymer-grade propylene increased by over Euro 50 to Eur886/mt FD NWE since the last week of February, while chemical-grade propylene rose by almost Euro 25 to Eur843/mt FD NWE in same period, as per Platts. Propylene prices have risen amid tightened supplies in Europe on plant production issues and refinery maintenance coupled with lack of imports following a fall in the value of the euro against the dollar and improving downstream demand.
At least 15% of European propylene production from crackers is now offline, including the largest of Total's three crackers at its Antwerp complex and its cracker in Feyzin, France; Repsol's cracker in Puertollano, Spain; the largest of Dow's three crackers in Terneuzen, The Netherlands; and Versalis' cracker in Dunkirk, France.
Chemical-grade propylene supply, produced at crackers and as a byproduct of refinery operations, saw greater pressure on supply due to production issues across oil refineries in Northwest Europe and the Mediterranean. Among those refineries in maintenance were Germany's largest, Mineraloelraffinerie Oberrhein (MIRO) in Karlsruhe; Shell's in Pernis, The Netherlands; ExxonMobil's in Port Jerome, France; Total's in Lindsey, UK; and Isab, Italy, 80%-owned by Lukoil and 20% owned by ERG.
25-Mar-15 
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