Asian
Propylene: Unchanged despite scanty trading- Shandong
propylene up Yuan 15/mt- LCY
Chemical to operate Kaohsiung's PP line at 80% in AprilMarch
10th saw the Asian propylene market remain stable as buyers continued to be
cautious about spot purchases. The May ICE Brent crude oil futures
contract for May was at $4.77/b, down from $81.08/lb on 0830
GMT. According to a propylene producer, Asia's propylene producers are
still struggling with weak PP margins.Assessed
CFR China propylene at $935/mt March 10, while the Asian
polypropylene-propylene spread stood at $5/mt, well below the typical breakeven
spread of $150/mt. Asian Petrochemicalscan March 10, 2023. 12
"It's painful for olefin manufacturers like us. Spread is too narrow to
make profit margins," said a Korean producer. However, propylene
prices in Shandong fell Yuan 15/mt and reached Yuan 7,425/mt Ex-Tank. This
comes out...