Petrotahlil - Despite weaker upstream crude and naphtha rates, Ethylene prices inched higher Asia on Tuesday. Reports of persistent strong buying trends in major markets like China, supported the price rise.
CFR South East Asia prices were assessed up at the USD 340/mt levels, a rise of USD 5/mt from Monday's assessed levels.
CFR North East Asia ethylene prices were assessed higher at the USD 365/mt levels, a day on day increase of USD 5/mt.
In plant news, Sinopec Zhenhai Refinery and Chem (ZRCC), has restarted its 1 MMT/year No.1 cracker, located in Zhejiang province of China, on April 21, 2020. following an unplanned outage. The unit was shut owing to technical issues on April 16, 2020.
In other plant news, Hanwha Total Petrochemical, has brought on-stream its cracker, on April 12, 2020. The cracker was shut on April 7, 2020 owing to technical glitch. Located at Daesan, South Korea, the cracker has an ethylene capacity of 310,000 mt/year and propylene capacity of 120,000 mt/year.
GAIL India Limited, has brought on-stream its No.1 cracker, on April 18, 2020. The cracker was shut in end-March, 2020 on account of the nation-wide lockdown caused by pandemic. Located at Pata, Uttar Pradesh in India, the No. 1 cracker has an ethylene production capacity of 446,000 mt/year.
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