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Ethylene prices gallop higher in Asia on Thursday

Petrochemical industry | 13 Nov 2020 08:30 IST | Polymerupdate.com

Ethylene prices bolstered higher in Asia on Thursday. The steep price rise was triggered by bullish upstream crude and naphtha values, coupled with stronger regional demand trends.

CFR North East Asia ethylene prices were assessed up at the USD 850/mt levels, a surge of USD 60/mt from Wednesday's assessed levels.

CFR South East Asia prices were assessed higher at the USD 775/mt levels, a day on day spike of USD 30/mt.

In plant news, LG Chem has shut its 1.6 mmt/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, Zhong Tian He Chuang Energy Co., has taken off-stream its No.1 Methanol-to-olefins (MTO) plant, in early-November 2020 for a maintenance turnaround. Located at Ordos, Inner Mongolia, China, the MTO plant has an ethylene production capacity of 300,000 mt/year and propylene capacity of 350,000 mt/year.
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