China's propylene prices have moved up following markets moving in narrow, yet firm range. One of the factors atributed for this rise is the robust demand even as the Chinese holidays are fast approaching. Market sources reveal offer prices by China's Sinopec Tianjin Petrochemical Company have reached RMB9300 per metric ton, up RMB 200 per metric.
Refining firm SINOPEC Tianjin's main products include over 70 varieties covering the products of more than 200 specifications, such as clean automobile gasoline, kerosene, jet fuel, diesel, LPG, heavy fuel oil, asphalt, petrol coke, para-xylene, purified terephthalic acid, petrobenzene, ethylene, polyethylene, polypropylene, ethylene oxide, ethylene glycol, polyether, polyester chips, polyester filament and polyester fiber, etc. Usually propylene is consumed in-house by Tianjin despite plant operations running normal. However, sources say company produce finds way in the open markets of China due to rising demand at present.
In another development, propylene maker Tianjin Dagang Chemical Co Ltd has drawn up higher offers at RMB9400 per metric ton, a RMB100 per metric ton price increase. The company has maintained that operations were streamlined as order books were ringing in sales but was running low on stocks.
An offer of RMB9870 per metric ton has come up from Shandong Jincheng Petrochemical Co Ltd reports media source which hs upped its prices by RMB50 per metric ton over the last trading. It is sailing in the same situation like Tianjin even though its propylene plant functions normally.
To reach the RMB9800 per metric ton mark for propylene, Shandong Shenghua Refining Co Ltd. had to mark up its price by another RMB100 per metric ton. It also reports normal functioning of plant and steady.
Higher demand has practically brought propylene stocks to a nought owing to its healthy demand in China.
marketing@alchempro.com
