24 November 2011 07:25 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Sinopec SABIC Tianjin Petrochemical is selling propylene in the spot market after an unplanned shutdown at its derivative 450,000 tonne/year polypropylene (PP) plant in Tianjin on 18 November, a company source said on Thursday.
Propylene is produced from its 1m tonne/year naphtha cracker at Tianjin.
The PP plant was restarted on 20 November, but there was a need to reduce inventory because of high propylene stocks, the source added.
Around 2,000-3,000 tonnes of propylene were sold into the market this week. An estimated 70% of its propylene was supplied to a domestic 2-ethylhexanol (2-EH) producer by pipeline, while the remainder was sold into the Shandong market.
The source added that propylene sales may be halted after two to three days when stocks return to normal levels.
Domestic propylene spot prices were at yuan (CNY) 9,900-10,100/tonne ($1,557-1,588/tonne) ex-tank in Shandong on Thursday, down by CNY50-150/tonne from levels on 23 November.
($1 = CNY6.36)
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