S Korea’s Honam Petchem to maintain maximum cracker runs in Feb

21 January 2010 09:34  [Source: ICIS news]

SINGAPORE (ICIS news)--South Korea’s Honam Petrochemical plans to continue operating its two crackers at full capacity in February, supported by healthy ethylene margins, a company source said on Thursday.

The company’s naphtha cracker in Daesan has a capacity of 1m tonnes/year while the cracker in Yeosu has a capacity of 750,000 tonnes/year. Honam has plans to expand the capacity of the smaller cracker by 250,000 tonnes/year to 1m tonnes/year in 2012.

“The run rates will be 100% next month, just like [in] January. Prompt naphtha supply is very tight,” said the source.

Weekly ethylene margins in northeast Asia were assessed at $447/tonne (€317/tonne) during the week ended January 15 and were around $513/tonne in southeast Asia over the same period, according to data from global chemical market intelligence service, ICIS pricing.

The figures are the highest levels since July 2008, based on the same data.

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By: Felicia Loo

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