27 March 2012 10:14 [Source: ICIS news]
At midday, Asian naphtha prices were at $1,091.50-1,094.50/tonne (€818.63-820.88/tonne) CFR (cost and freight) Japan, up $4.00-5.00/tonne from the previous day’s close.
Sinopec will also keep reduced production rates at its polyethylene (PE) and polypropylene (PP) plants because of feedstock supply constraints, the company source said.
Its crackers, along with its polyolefins plants, have been running at 90-95% of capacity in March.
The company will lose around 100,000 tonnes of PE and PP in April because of the low operation rates, the source said.
In February, the facilities ran at near-full capacity, with Sinopec’s PE output estimated at 488,000 tonnes, while its PP production for the month totalled 410,000 tonnes, according to Chemease, an ICIS service in
($1 = €0.75)
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