South Korea’s YNCC delays No 1 cracker restart to 26 Feb

25 February 2011 03:30  [Source: ICIS news]

SINGAPORE (ICIS)--South Korean producer Yeochun NCC (YNCC) may restart of its 857,000 tonne/year No 1 cracker on 26 February as it needs more time to resolve some issues resulting from its outage on 22 February, a company source said on Friday.

“It’s totally impossible to restart the cracker today [25 February],” the source said.

“We will restart operations by Saturday evening, but we are not sure and there may be delays again,” a company offiical said.

YNCC was estimated to lose around 4,225 tonnes of propylene as a result of the outage, according to sources.

The No 1 cracker might operate at a reduced rate of 60-65% after it restarts.

Ethylene output loss was estimated at 20,000 tonnes, the company official said. This is an increase of 5,000 tonnes from previous estimates, leading to expectations of a further tightening of supply in March and April.

Selling notions for ethylene were pegged at $1,400/tonne (€1,008/tonne) FOB Korea, up $50/tonne, but there were no discussions, the company official added.

($1 = €0.72)

Additional reporting by Helen Lee and Felicia Loo

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By: Chow Bee Lin
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