BP Refinery Blast: Little effect on Asian xylenes market

24 March 2005 04:44  [Source: ICIS news]

SINGAPORE (CNI)--There was little movement on the Asian xylenes market after the fatal blast at BP’s refinery in Texas on Wednesday night which has killed at least 14 people, market sources told CNI on Thursday.

 

The blast took place at the refinery’s isomerisation unit, which made components to increase the octane content of gasoline. The refinery produces 3% of the gasoline in the US, according to BP, which said that its chemical production units at the site were not damaged by the blast.

 

A South Korean xylenes producer said that most players had adopted a wait-and-see approach: “Its too soon to say. Sentiment on mixed xylenes is steady but we will keep an eye on the US situation," he added

 

Market sources said that there was little effect on prices, with FOB offers from South Korea unchanged around $650-660/tonne FOB Korea.
By: Steve Tan
+65 6780 4359

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