Thailand’s Siam Cement raises cracker run rates in July
06 July 2012 03:48 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>Thailand’s Siam Cement Group (SCG) has raised the operating rate at its two joint venture naphtha crackers in Map Ta Phut this month, a source close to the company said on Friday.
The decision to increase production was partly because of recent spikes in prices of ethylene. SCG is a net importer of the product.
Rayong Olefins (ROC) – an 800,000 tonne/year cracker jointly operated by SCG and US major Dow Chemical – is running at 80-85% in July, the source said.
The two companies also jointly run Map Ta Phut Olefins Company’s (MOC) 900,000 tonne/year cracker, which is operating at around 90% this month, the source said.
In June, the two crackers were running at 70-80%.
Ethylene spot prices in Asia have been rising over the past two weeks partly because of limited July supply following a recent power outage at a petrochemical complex in Mailiao, Taiwan - run by Formosa Petrochemical Corp (FPCC) - and production cutbacks in the region on squeezed margins.
Ethylene spot prices were stable at $1,040-1,060/tonne (€842.40-858.60/tonne) CFR (cost and freight) northeast (NE) Asia in early morning trade on Friday.
($1 = €0.81)By: Peh Soo Hwee+65 6780 4359
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