India trims May naphtha exports on Panipat cracker start-up

20 April 2010 10:05  [Source: ICIS news]

SINGAPORE (ICIS news)--India will export 905,000-930,000 tonnes of naphtha in May, slightly lower than the 980,000 tonnes shipped out in April due to the start-up of a new cracker last month, traders said on Tuesday.

"It’s due to Panipat (cracker) starting up," a trader said, attributing the drop in volumes to the newly commissioned cracker.

Indian Oil Corp (IOC) started up its new 857,000 tonne/year naphtha cracker at Panipat in Haryana state on 11 March.

Feedstock propylene from the cracker was fed into IOC’s new 600,000 tonne/year polypropylene (PP) plant at the same site last week, with commercial output from the PP unit expected in the first half of May.

The company’s 650,000 tonne/year polyethylene (PE) facility was set to go on trial production in late April or early May and would achieve commercial output in early June.

Asia’s naphtha spread between the first half of June and the first half of July remained steady at $7.50/tonne (€5.55/tonne) in backwardation, according to global chemical market intelligence service ICIS pricing.

($1 = €0.74)

For more on PP and PE visit ICIS chemical intelligence
To discuss issues facing the chemical industry go to ICIS connect


By: Felicia Loo



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index