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Asian Propylene: CFR China stable on stalemateprice discussions / South Korea's naphtha-fed steam crackers to operate ataverage 87% in May / China's Zhejiang Petrochemical restarts Zhoushan No. 2cracker, downstream PE units

Asian Propylene: CFR China stable on stalemateprice discussions / South Korea's naphtha-fed steam crackers to operate ataverage 87% in May / China's Zhejiang Petrochemical restarts Zhoushan No. 2cracker, downstream PE units

May 20, 2024

Asian propylene CFR China ended the week to May 17 firmeron the day while remaining stable on the week, led by firmerChinese domestic market.Despite a day-on-day uptick, the short-term outlook wasmixed as buyers maintained an unchanged stance while offers ona CFR China basis were largely reported stable to higher.Sources cited limited dollar-denominated cargo availability inthe Northeast Asian region although subdued demand persisted,resulting in stalemate discussions.In domestic China, Shandong prices rebounded followingthree consecutive day-on-day falls. theShandong propylene price up Yuan 35/mt on the day at Yuan6,750/mt May 17.Several sources attributed the support to China propertystimulus measures announced by the Chinese centralgovernment May 17, lifting sentiments and trading in Chinesefutures market, including downstream polypropylene futures.In plant news, South Korea's naphtha-fed steam crackerrun rates are slated to average 87% of online capacity in...

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