- Buyers keep back- China's Jiangsu Sailboat
reduces Lianyungang PDH plant run rate



February 16th saw the Asian propylene
market decline due to weak downstream demand for polypropylene. This weighed on
indicative offers and bids. The propylene imports market was not
supported by a stronger crude oil price. The April
ICE Brent crude oil futures contract increased $1.14/b to $85.59/b at 4:30pm
Singapore time. This was an increase of $1.14/b over the Asian close. "Actual
propylene demand is not high. The price has risen too much. PP is
having trouble catching up. An international trader stated that
the propylene feedstock prices are already higher than the PP. The spread
in price between PP & propylene was calculated at minus 50/mt February 16,
which is well below the $150-170/mt breakeven spread. China's
Jiangsu Sailboat Petrochemical reduced the run rate of...