26 April 2012 06:16 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) shut its No 1 residual fluid catalytic cracker (RFCC) at Mailiao for maintenance on 25 April as scheduled, a company source said on Thursday.
The shutdown has not had any impact on the propylene market this week as discussions were broadly lower.
Selling ideas at $1,500/tonne (€1,140/tonne) CFR (cost & freight) NE (northeast) Asia for cargoes arriving in May were met with buying interest at $1,450-1,460/tonne CFR NE Asia on Thursday, market sources said.
Propylene spot prices were assessed at $1,490-1,560/tonne CFR NE Asia during the week ended 20 April, according to ICIS.
The company also runs a No 2 RFCC at Mailiao, which has the same propylene nameplate capacity as the No 1 unit, but it is not scheduled for maintenance this year.
($1 = €0.76)
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