- East China propylene declines Yuan 50-80/mt- No. 2 steam crackers for more than
2 weeks of maintenance





The propylene market was stable on July 26,
despite thin trading, as Chinese buyers were cautious in acquiring spot imports. The ICE September Brent crude oils futures rose
$4.3-5.50/b to $106.78-120.50/b at 0830 GMT Asian closing on July 26. However,
this did not help the propylene market rally. A Chinese
PP producer said that "every C3 derivative is performing poorly, everyone
is bleeding." Imports also suffered from a decrease in
domestic propylene prices. East China propylene prices fell from Yuan 50-80/mt to Yuan 7,225-7,500/mt ex tank. According
to market sources, the propylene market experiences a seasonal slump around
July-August. Some producers in Northeast Asia have reduced
their run rates due to concerns about China's new COVID-19 lockdowns and the...