Source: sinopecnews.com

According to Platts SINGAPORE (January 4),the price of propylene in Asia reached a new height in 31 months. The CFR China benchmark for propylene prices in Asia reached US $ 1031 / tonne, up US $ 10 / tonne than that in the previous day. The price rose 19 US dollars / ton in this week. The last high point on the CFR China indicator was reached on May 11, 2015, then it was $ 1,030 / tonne.

Market participants said that affected by the planned shutdown of the device plan, especially in Northeast Asia, the price of propylene in Asia is expected to rise in January. In terms of naphtha-based steam crackers, at least 2.2mt / y of capacity in Asia will be suspended for maintenance in January. The biggest impact will occur in Japan.

In northern China, Tianjin Bohai Company closed a 600,000 t / y propane dehydrogenation (PDH) unit on January 4 for overhaul, a company source said.

Although it is expected that the unit will be up to one month of downtime maintenance, but the shut down time is earlier than the planned January 15 .

Stakeholders said the reason for early stoppage maintenance is that the company hopes to restart the device before the Chinese New Year holiday on February 15.

This year’s Chinese New Year holidays will run from Feb. 15 to Feb. 21, and the pre-holiday replenishment activities will support the price of propylene most of the first quarter in 2018.

By Rainy:http://blog.chemchain.com