China’s Shandong Hengyuan sells propylene to spot market

19 January 2012 10:07  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Shandong Hengyuan Petrochemical has started to sell propylene directly to the spot market instead of supplying it as feedstock to its 100,000 tonne/year polypropylene (PP) powdered unit at Dezhou in Shandong province, a company source said on Thursday.

“We sell propylene at a better profit than (providing to the) PP unit,” the company source said, adding that daily sales amounted to around 160-170 tonnes.

The ex-tank propylene prices in Shandong were assessed at yuan (CNY) 10,900-10,950/tonne ($1,727-1,735/tonne), while PP powdered prices are stable at CNY10,200/tonne, lower than the propylene prices.

Hengyuan Petrochemical operates a 250,000 tonne/year gas fractionation unit at the same site.

($1 = CNY6.31)

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By: Lilian Hua

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