04 November 2010 03:28 [Source: ICIS news]
SINGAPORE (ICIS)--Indonesia’s Chandra Asri has cut operating rates at its 600,000 tonne/year naphtha cracker in Merak, ?xml:namespace>
Prior to the reduction, the cracker operated at 93-94% of its nameplate capacity, the source said.
“With the current situation in ethylene, we have to cut back the rates,” he added.
The cracker margin plummeted to $70-90/tonne (€49.7-56.8/tonne) from between $100-200/tonne, in the face of robust feedstock naphtha prices which surged in tandem with crude, ICIS data showed.
Asia naphtha surged to $791.75-794.75/tonne CFR
Chandra Asri’s cracker also faced an equipment problem, which would be resolved soon, the company source said.
($1 = €0.71)
Additional reporting by Larry Tan
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