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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