S Korea’s SK Energy to cut No 1 naphtha cracker rate in November
21 October 2011 08:33 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>South Korea’s SK Energy plans to cut the operating rate of its 190,000 tonne/year No 1 naphtha cracker in Ulsan to 70% of capacity next month because of weak market conditions, a company source said on Friday.
The cracker is running at 80% of capacity this month, the source said.
SK Energy will continue to run its 690,000 tonne/year No 2 cracker at the same site at full rates, he added.
Cracker operators in Asia are facing squeezed margins because of a sharp correction in olefins prices, while feedstock naphtha prices remain high.
Ethylene spot prices were traded at $1,030-1,050/tonne (€752-767/tonne) CFR (cost & freight) NE (northeast) Asia on Friday, $10/tonne lower than on 20 October, according to ICIS pricing.
($1 = €0.73)
Please visit the complete ICIS plants and projects databaseBy: Peh Soo Hwee+65 6780 4359
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.