Ethylene prices stagnated at US$1190/MT in Asia in the week of November 26, 2007 despite a short supply situation caused by an unplanned outage declared at Samsung Total's naphtha cracker. An incessant influx of cargo from the Middle East, causing a supply glut, has been mainly responsible for the stagnancy in the market. SamsungTotal's 850,000 tpa naphtha-cracking unit is estimated to remain closed for over a week due to compressor problem. The outage has, however, has had limited influence over the ethylene market of Northeast Asia, as the company had already lowered the run rates at its cracker and reduced exports.
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment