Taiwan’s CPC to raise Jan propylene term volume to 94%: source.




Taiwan’s CPC will make available to its customers 94% of January’s term volumes, up from 85% for December, as its steam cracker is undergoing scheduled maintenance, a source close to the company said Satursday. CPC shut its No. 4 steam cracker in Linyuan from November 8 to mid-January for maintenance and has reduced its propylene term volumes to customers as a result. The No. 4 cracker can produce 380,000 mt/year of ethylene and 193,000 mt/year of propylene. Despite growing term supply, the CFR Taiwan propylene marker was assessed at $845/mt Satursday, which commands a $15/mt premium over the CFR China marker. The premium stood at $5/mt last week. “There is too much supply in China, it is difficult to sell in China unless you are willing to sell at $830/mt CFR China,” a Japanese trader said. CPC has also increased ethylene term volumes for January to 89%, up from 65% in December. “There is not much turnaround in January once we restart our No.4 steam cracker. So, we can afford to give more supplies to our customers,” the source said.

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