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Ethylene prices spike in Asia

Petrochemical industry | 21 Nov 2020 08:40 IST | Polymerupdate.com

Ethylene prices surge in Asia this week. Reports of limited product avails and stronger regional buying sentiments, together helped ethylene sellers to raise their prices sharply higher across the Asian regions.

Firm downstream PE demand and pricing trends further supported the price gain.

CFR South East Asia prices were assessed at the USD 865/mt levels, a spike of USD 90/mt from the last week. CFR North East Asia ethylene prices were assessed at the USD 935/mt level, a week on week surge of USD 85/mt.

In plant news, LG Chem has shut its 1.6 million mt/year cracker, located at Yeosu, South Korea, on November 5, 2020, following a fire reported at its catalytic reforming unit. The cracker is expected to remain shut until January 2021.

In other plant news, Lotte Chemical, is likely to restart its cracker in the first half of December 2020, following an unplanned outage. The cracker was shut following an explosion that occurred in the plant's compressor on March 4, 2020. The fire tender was rushed to the site and the fire was doused around 2 hours later. The exact cause of the fire could not be ascertained. Located at Daesan in South Korea, currently the cracker has an ethylene capacity of 1.1 million mt/year and propylene capacity of 540,000 mt/year.
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