LG Chem to cut Yosu, Daesan cracker runs

By Echo Corporation In News No comments

South Korean petrochemical producer LG Chemical is cutting operating rates at its Yosu and Daesan crackers from March amid reduced downstream operations with the impact of the coronavirus outbreak. Operating rates at the two crackers will be reduced to 95pc in line with the loading down of downstream polyethylene (PE) and styrene monomer (SM) units from mid-February. […]

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Oversupply, weak economy to hit margins: Lotte Chemical

By Echo Corporation In News No comments

Collected from Argus Media South Korean petrochemical producer Lotte Chemical expects profit margins on olefins and aromatics to remain squeezed in the current quarter, as regional capacity expansions add to oversupply and global economic turmoil threatens to undermine demand. Profits for polypropylene (PP), polyethylene (PE) and other olefins will remain weak amid Asia-Pacific capacity additions, […]

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Involuntary losses push Opec output to four-month low

By Echo Corporation In News No comments

Collected from Argus Media Opec’s output fell by 600,000 b/d in January, as restraint and involuntary declines pushed the group’s combined production to the lowest since the attack on Saudi Arabia’s oil facilities in September last year. The first month of the extended and deepened output deal saw the 10 participating member countries overcompliant with […]

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China chemical production curtailed amid Coronavirus restrictions

By Echo Corporation In News No comments

Focus article by Will Beacham Interactive content by Miguel Rodriguez-Fernandez BARCELONA (ICIS)–Disruption in China caused by the coronavirus is hitting domestic chemical production as the Lunar New Year break is extended amid restrictions on movement of goods and people. As the government battles to contain the spread of the virus, there are reports that logistical problems, staffing […]

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China methanol faces logistical constraints

By Echo Corporation In News No comments

Collected from Argus Media: Chinese methanol prices could fall next week if demand is affected by logistics constraints arising from measures imposed to curb the coronavirus outbreak. Prices for imported cargoes have already fallen by $7-15/t from last week’s close. Two deals were concluded today, at $203/t and $255/t cfr China. Prior to the lunar […]

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South Korea’s LG Chem to cut cracker rates

By Echo Corporation In News No comments

Collected from Argus Media- South Korea’s LG Chem plans to reduce operating rates at its 1.27mn t/yr Daesan cracker by 5pc to 95pc from January because of squeezed production margins. The company will monitor market sentiment and production margins before deciding on any further cuts for February. LG Chem will become the second South Korea-based […]

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Southeast Asia schedules cracker turnarounds

By Echo Corporation In News No comments

Collected from Argus Media- A series of cracker turnarounds in southeast Asia during next year’s first quarter will tighten ethylene and propylene supplies, potentially lending support to current weak sentiment in the olefins market Thailand’s state-owned producer PTT Global Chemical will be having scheduled maintenance for 45 days at its I-4 No.1 and I-4 No.2 […]

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Certified Palm Oil Could Trade In Higher Prices

By Echo Corporation In News No comments

Collected from MPOC News- INDUSTRY players could see an increase in trading prices for Malaysian Sustainable Palm Oil (MSPO)-certified palm oil as the government sets a mandatory standard beginning 2020. The Malaysian Palm Oil Board (MPOB) DG Dr Ahmad Parveez Ghulam Kadir (picture) said the MSPO certification processes along the palm oil supply chain could increase operation […]

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Fuel retailers to invest $750mn in Mexico in 2020

By Echo Corporation In News No comments

Collected from Argus Media Fuel retailers could invest Ps15bn ($750mn) in Mexico next year mostly in 175 greenfield stations — if they can overcome regulatory hurdles — as well as technology to keep up with new rules, industry association Onexpo estimates. Permitting backlogs and political uncertainty already stalled development of completely new stations this year. Mexico has […]

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Higher CPO Prices Lift Plantation Counters- Palm Oil

By Echo Corporation In News No comments

KUALA LUMPUR (Nov 12): Plantation counters are experiencing bullish share prices on Bursa Malaysia following positive news on exports and reduction in palm oil stocks by 4.1 per cent to 2.35 million tonnes in October, which pushed up crude palm oil (CPO) prices. At 10.45 am, Sime Darby Plantation rose three sen to RM5.10, KLK […]

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Vietnam’s NSRP offers off-spec PP

By Echo Corporation In News No comments

Collected from Argus Media Vietnam’s Nghi Son Refinery and Petrochemical (NSRP) is offering small quantities of off-specification polypropylene (PP). The offer is for 1,900t, with a delivery window of 18-30 November. The PP is likely to be sold to the domestic market. NSRP only infrequently offers off-specification material. The reason for the latest offer is […]

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SKGC includes Argus pricing in term PX tender

By Echo Corporation In News No comments

Collected from Argus Media South Korea’s largest paraxylene (PX) producer SK Global Chemical (SKGC) has changed the pricing basis for its 2020 term contract to include Argus cfr Taiwan and China spot assessments. The company has offered its term supplies for next year on a 50pc Argus, 50pc Icis basis. It previously priced most of its PX sales […]

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China’s PP prices slip on bearish demand

By Echo Corporation In News No comments

Collected from Argus Media Chinese polypropylene (PP) prices softened this week because of bearish demand fundamentals and expectations of increased supplies from the Middle East. China PP raffia prices slipped by $15/t to settle at $970-980/t today. New November offers in China were limited this week. Russian material for PP raffia was offered at $980/t […]

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Petronas continues to ramp up polymer production

By Echo Corporation In News No comments

Collected from Argus Media Malaysia’s state-owned Petronas is continuing to ramp up polymer production at the 300,000 b/d Pengerang refinery in Johor state, ahead of its targeted start-up in November. The refinery is a joint venture between Petronas and Saudi Arabia’s state-owned Saudi Aramco. It can produce 750,000 t/yr of polyethylene and 900,000 t/yr of […]

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China’s PP prices slip on bearish demand

By Echo Corporation In News No comments

Collected from Argus Media Chinese polypropylene (PP) prices softened this week because of bearish demand fundamentals and expectations of increased supplies from the Middle East. China PP raffia prices slipped by $15/t to settle at $970-980/t today. New November offers in China were limited this week. Russian material for PP raffia was offered at $980/t […]

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India’s Haldia seeks to finalise benzene sales for 2020

By Echo Corporation In News No comments

Collected from Argus Media India’s private-sector producer Haldia Petrochemicals (HPL) has issued a tender to sell 130,000t of benzene for 2020. This makes HPL, which operates facilities in Kolkata on India’s east coast, the first petrochemicals producer seeking to finalise term contracts for the coming year. The tender was issued on 24 October and bids […]

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Japan’s naphtha imports fall in September

By Echo Corporation In News No comments

Collected from Argus Media Japan’s naphtha imports in September fell from a year earlier, pressured by weaker demand from the country’s ethylene producers. Naphtha imports in September totalled 1.4mn t (415,000 b/d), down by 11.3pc from a year earlier, according to customs data released today by the country’s finance ministry. September imports were also lower […]

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The Worst Oil Trades Ever Made

By Echo Corporation In News No comments

By Alex Kimani from Oilprice.com It’s a poorly kept secret that honesty is the rarest commodity in financial circles. Greed, insider dealings, questionable ethics and all manner of corporate malfeasance are rampant on Wall Street. That’s why the Obama administration instituted crippling Dodd-Frank regulations a decade ago. That said, it’s easy to assume that only big and […]

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Xingfengming starts up Pinghu PTA

By Echo Corporation In News No comments

Collected from Argus Media Chinese polyester producer Xinfengming is starting up its new purified terephthalic acid (PTA) plant at Pinghu in east China’s Zhejiang province. This PTA plant with a nameplate capacity of 2.2mn t/yr has two production trains each of 1.1mn t/yr. One of the two trains has started up and Xinfengming plans to […]

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