A significant increase has been recorded in the prices of Ethylene, in Asia because of the tight supply because of the large number of shutdowns of plants in the region. As per ChemOrbis, the period of inflation began in the April and it will continue till June or July.
As per the previous statistical data, the prices of ethylene were $75 per ton higher when compared to CFR Northeast Asia and $40 per ton firmer when compared with Southeast Asia prices. Also, when the prices are compared with early March, it has been recorded that the rates of Ethylene are larger at over $300 per ton to $380 per ton. The heavy increases in the prices adversely affected the production and supply chain of testing equipments in Asia.
LG Chem’s located in Daesan, South Korea, who cracked a target of 900,000 per year was shut down in the mid-March for its annual maintenance. But as per the initial plans, it is expected to restart by April 19,2015. Moreover, Samsung located in South Korea, a record beater of a total of 700,000 tons per year has also shut down its production for further maintenance of polyolefin units in April. As per the data, this will continue for at least 40 days. BASF-YPC’s in China has also shut down its production for two months for maintenance starting from the April.
News Source:- http://www.plasticsinfomart.com/asian-ethylene-prices-climb-up-on-shutdowns/