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Ethylene prices plunge in Asia

Petrochemical industry | 11 Jul 2020 08:30 IST | Polymerupdate.com

Ethylene prices witnessed a steep drop in Asia. The sharp price fall was attributed to a week on week drop in upstream crude values coupled with weaker regional demand trends.

Reports of plentiful product availability in the region, further supported the price drop.

CFR North East Asia ethylene prices were assessed at the USD 805/mt level, a plunge of USD 75/mt from the previous week.

CFR South East Asia prices were assessed at the USD 745/mt levels, a week on week tumble of USD 55/mt.

In plant news, CPC Corp, has brought on-stream its No 4 cracker, on July 5, 2020 following an unplanned shutdown. The cracker was shut on July 2, 2020 following a fire reported near it's feedstock storage tank. Located in Kaohsiung, Taiwan, the No. 4 cracker has an ethylene capacity of 385,000 mt/year and propylene capacity of 230,000 mt/year.

In other plant news, Tianjin United Chemical, resumed production at its naphtha cracker, in early-July 2020. following a turnaround. The cracker was shut for maintenance on May 8, 2020. Located at Tianjin, China, the cracker has an ethylene production capacity of 240,000 mt/year and propylene capacity of 100,000 mt/year.
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