Tight Supply &Nbsp; Propylene Prices In Asia Reached The Highest Level In Two Months.

Asian propylene Spot prices reached the highest level in two months this week, due to tight supply in the region and tight supply. The Taiwan Petrochemical Industries Co's facilities were closed down last month, market sources said on Thursday.

Propylene purchase price rose 70-90 US dollars / ton (53-68 euro / ton) this week, reaching US $1150-1170 / ton. CFR (cost plus freight) northeast Asia price, but end users in the main market of China say that propylene supply is insufficient, because traders retreat and wait when supply shrinks, and also because some sellers focus on their efforts to sell Taiwan Petrochemical Industries Co.

Market sources said that Taiwan's producers purchased regional freight at a price of $1170-1180 / ton, CFR Northeast Asia, which arrived in the second half of 8. Sales will continue to rise, higher than $1200 / ton, and the CFR Northeast Asian price is currently under discussion.

The two week market is quite strange, and all the offers have been sold, a polypropylene production unit in China said.

The Taiwan Petrochemical Industries Co shut down the No 1 naphtha cracking unit at MAH Liao at the beginning of July, which has a capacity of 700 thousand tons / year. After the explosion, the plant is expected to resume operation in late 9 or early October. The Petrochemical Industries Co in Taiwan was also forced to close its 540 thousand barrels / day refinery and many downstream facilities for safety checks.

In the middle of this week, Taiwan petrochemical A company said that the unit of propylene production has not yet resumed operation. The company operates a paraffin conversion unit with a capacity of 250 thousand tons / year of propylene, and also operates two units of residual catalytic cracking unit. The propylene production capacity reaches 650 thousand tons / year.

This week, the spot price of polypropylene also rose, which is worrying about the shortage of propylene feedstock, market sources said.

Taiwan is a net exporter of propylene, and a large number of exports come from the Taiwan Petrochemical Industries Co.

In 2009, the export of propylene in Taiwan decreased by 7% to 547 thousand and 32 tons compared with the same period last year.