24 June 2008 07:18 [Source: ICIS news]
South Korea exported 47,177 tonnes of ethylene in May, representing a 30.26% decline from 67,652 tonnes in April.
"The sharp decrease in Korea’s ethylene exports is because of the series of shutdowns at Yeochun Naphtha Cracking Center’s (YNCC) crackers," a trader said, referring to the power outage, which forced YNCC to shut down all three of its crackers.
China, a big importer of South Korean ethylene, reduced its May purchase by 36% from April figures to 30,577 tonnes.
This was somewhat offset by the increased imports in May by Japan, which rose 21% due to the heavy turnaround period in Japan with three crackers shut down for maintenance simultaneously in May.
South Korea is one of the largest ethylene producing countries in Asia with a combined production capacity of more than 6.7m tonnes/year.
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