Oil prices remained firm, affecting the raw material production as well as prices. Demand for Naphtha is strong in the Asian region, resulting in higher Indian exports, which are estimated to touch at least 7,50,000 tons in November, due to more attractive prices.
Although Asia will not lack naphtha, quotations at Japan's open specifications are expected to soon drop to below US $800 per ton, C&F.
Refineries in various Asian regions are operating below capacity due to maintenance reason.
Shanghai SECCO Petrochemical has closed the pyrolysis plant with an annual output of 900,000 tons, due to leakage problems.
Japanese Oil Company has shut down the naphtha cracker unit and the aromatics plant at Kawasaki Japan, because of power failure.
In Indonesia, Chandra Asri has lowered 23 percent of its operating rate of cracker unit, owing to interrupted production line of downstream polyethylene.
The second 900,000 tons naphtha cracker unit of Taiwan's Formosa Plastics Petrochemical Company will restart operation after 45 days maintenance, earlier than the expected date of November 12, after the device was closed on September 25.
It is anticipated that Taiwan Formosa Plastics petrochemical Company will also restart the operation of its second naphtha cracker unit with an annual capacity of 900,000 tons in mid November, after the device was closed on September 25.
Naphtha demand from ethylene plants is expected to remain strong, because the pyrolysis plant with an annual output of 230,000 tons from PetroChina is to restart operation at about November 20, after it shut down for routine maintenance on October 11.
Fibre2fashion News Desk - China
marketing@alchempro.com
