Propylene prices remain stable in Asia

Despite the rise in upstream energy values, propylene prices remained stable in Asia on Monday, supported by quiet buying sentiment across the region, as per Polymerupdate.

On Monday, FOB Korea propylene prices were assessed at the USD 745-755/mt levels, steady from Friday's assessed levels.

Meanwhile, CFR China propylene prices on Monday were assessed at the USD 780-790/mt levels, unchanged from Friday.

In plant news, Hyundai Chemical is likely to shut down its cracker by mid-October 2025 for a maintenance turnaround. The unit is expected to remain offline for around 50 days. Confirmation from an authorized source could not be obtained. Located in Daesan, South Korea, the cracker has a propylene production capacity of 500,000 mt/year.

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The combined quota of the OPEC+ countries for November, including compensations by those who broke the arrangement, will total 38.084 million barrels per day (b/d), up 74,000 b/d on October, according to estimates by Interfax based on the latest OPEC data, as per Interfax.

On Sunday the eight members of the alliance which voluntarily restricted their outputs by 1.65 million b/d approved a resolution to increase production by an aggregate 137,000 b/d from next month. However, the increase will be more restrained due to the compensatory schedules for the overproduction in previous months, primarily by Kazakhstan which is to cut its output by 86,000 b/d in November.

Three participants in the deal - Saudi Arabia, Kuwait and Algeria - will be able to produce at the level of the quotas set at 10.061 million b/d, 2.569 million b/d and 967,000 b/d, respectively. The other five will have to cut their targets by a certain volume of compensations, depending on the extent of the surpluses they allowed to occur in previous months.

According to the current quotas and compensation schedules, next month oil production plans will increase to 9.498 million b/d in Russia, 4.107 million b/d in Iraq, 3.377 million b/d in the United Arab Emirates, 2.569 million b/d in Kuwait and 802,000 b/d in Oman. Kazakhstan is to bring output down to 1.477 million b/d.

That means that from next month Russia and Saudi Arabia can each increase their outputs by 41,000 b/d, the UAE by 22,000 b/d, Iraq by 18,000 b/d, Kuwait by 10,000 b/d, Oman by 6,000 b/d and Algeria by 4,000 b/d.

Kazakhstan is the only one to have to reduce production, by 58,000 b/d.

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Eight OPEC+ countries have decided to increase their production quotas in November by 137,000 barrels per day due to a stable global economic forecast and favorable market conditions currently reflected in low oil reserves, the Organization of the Petroleum Exporting Countries said in a statement, as per Interfax.

The next meeting of the ministers is due on November 2.

The decision was made due to stable prospects for the world economy and favorable market conditions expressed in low oil reserves, the statement said.

In future the 1.65 million b/d limits could be restored partly or in full, depending on the market situation, it said.

Considering the compensation schedules for some members of the alliance the combined OPEC+ quota for production in November will increase by 74,000 b/d to 38.084 million b/d.

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In the frame of two new long-term contracts, Air Liquide S.A. (Paris) will build, own and operate two new state-of-the-art industrial gas facilities to support the expansion of a leading semiconductor manufacturer in Singapore, for a total investment of €130 million, as per company.

Ultra-high purity gases are essential to accompany the next wave of digital technologies, including AI. These new contracts, signed just a few months apart, highlight the acceleration of demand for advanced electronics components in this key hub.

Air Liquide’s next-generation facilities will supply large volumes of ultra-high purity nitrogen to support the production of advanced chips. Integrated with digital technologies such as automation and predictive maintenance, Air Liquide’s new infrastructures will enhance energy efficiency, operational reliability and quality control, delivering value to the customer. The new units are projected to be operational by 2027, further leveraging the Group’s expertise and extensive footprint in the region.

With these investments, Air Liquide reinforces its forefront position in Singapore but also more broadly in Asia. In addition, this new series of contracts with a long-standing customer demonstrates its confidence in the Group’s proven ability to deliver industrial gas technologies with the highest standards of quality, reliability and safety. THis investment also follows a significant investment by Air Liquide in Europe’s semiconductor supply chain.

Ronnie Chalmers, Air Liquide Group Vice President, in charge of supervising Asia Pacific, commented: “Innovation and reliability are at the heart of our business. These contracts are a true testimony of our client’s continued trust, and this move enhances Air Liquide’s position as a leading technology partner to the global semiconductor industry, which continues to rapidly expand in Asia and worldwide. Our advanced solutions will provide the highest levels of reliability and efficiency, demonstrating our strong commitment in delivering the best value to our customers and empowering the future of AI and high-tech innovation.”

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Teijin Automotive Technologies, a European subsidiary of Teijin Ltd., has announced an alliance with Aeronautical Service Srl (Rome), a technology company specializing in ceramic composite materials, as per Chemweek.

This collaboration aims to expedite the industrialization of high-temperature-resistant components utilizing proprietary ceramic matrix composite technologies.

As part of the agreement, Teijin Automotive Technologies has secured exclusive production rights for the automotive sector within its European facilities, alongside extended production rights in the marine, aerospace and industrial sectors. Aeronautical Service will license its FireA technology, which offers a high-temperature-resistant, fireproof and lightweight material formulation.

Teijin said the partnership will focus on the industrialization and standardization of production processes for ceramic matrix composites. The collaboration is set to scale production capabilities to meet the increasing international demand from European facilities. Together, the companies will develop functional applications and market the resulting solutions to global institutional and industrial clients.

According to Teijin, traditional composite materials have long been lauded for their weight and performance advantages; however, they have faced limitations regarding fire resistance. The new generation of high-temperature ceramic matrix composites promises to overcome these challenges, enabling the design and manufacture of structural components that blend the benefits of lightweight composites with comprehensive fire protection. These advanced materials are engineered to withstand extreme temperatures of up to 2,000 degrees C without producing smoke or toxic emissions.

By integrating Aeronautical Service’s ceramic formulations with Teijin Automotive Technologies’ range of industrial production solutions for composite parts, the partnership aims to facilitate the cost-effective, high-volume production of fireproof components.

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