Propylene prices in Asia continued to surge, rising by over hundred dollars to US$1740/MT levels this week. The price hike was caused by restricted supplies due to snags and breakdowns at plants in South Korea, China and Malaysia, coupled with upbeat sentiments for downstream Polypropylene markets. China's Maoming Petrochemical has shutdown its 400,000 tpa propylene plant after a fire last week. Mechanical problems have forced South Korea's Lotte Daesan to operate its 500,000 tpa propylene plant at reduced rate. Malaysian Titan Petrochemical's naphtha cracker is running at reduced rates
A producer from South Korea has hiked fresh offers to US$1900/MT CFR levels. Uncertainty in short term price movement has kept firm offers at bay in Asia.
13-Jun-08 
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