08 July 2010 09:24 [Source: ICIS news]
By Felicia Loo
SINGAPORE (ICIS news)--?xml:namespace>
“The fire has been extinguished. There is a need to change the damaged parts and testing will be needed. So the shutdown will be a month,” the source said.
“It’s not clear at this stage,” said the source, referring to the No 2 cracker turnaround.
Naphtha price spreads in the Asian market continued to fall deeper into a wide discount on Thursday, with the first-half August and second-half September contracts widening to -$3.50/tonne from -$2/tonne on the previous session, ICIS data showed.
“The market’s already bearish and now with
In a meeting held Thursday afternoon, FPC asked its customers to submit plans detailing their feedstock requirements for the second half of this year, said a source close to the company.
There was no mention of having to buy any spot ethylene or propylene cargoes for downstream needs, the source said.
“There should be sufficient ethylene and propylene inventories in Mailiao to last into August for derivative operations,” he added
Separately, market sources said no ethylene discussions were heard but there was some possibility of purchasing spot propylene cargoes for
Propylene offers/selling ideas were mentioned at close to $1,050/tonne (€830/tonne) CFR China, slightly firmer compared with discussions at $1,020-1,050/tonne CFR China earlier in the week.
($1 = €0.79)With additional reporting by Peh Soo Hwee
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