Japan’s Mitsui Chemicals eyes Chiba naphtha cracker run rate cut

04 October 2012 05:18  [Source: ICIS news]

SINGAPORE (ICIS)--Japan’s Mitsui Chemicals may cut operating rates at its 617,000 tonne/year naphtha cracker in Chiba in November, from 80% currently, because of the turnarounds at downstream units, a company official said on Thursday.

“Now we have no need to cut operating rates but we may operate at under 80% capacity mainly at the Chiba cracker in November because many derivative plants in Chiba will have turnarounds,” he said.

The company is currently running its other 450,000 tonnes/year naphtha cracker in Osaka at 80% capacity, he added.  

Meanwhile, the company may have up to four spot ethylene cargoes of around 3,000 tonnes each available for sale for loading in November, depending on the economics, according to the official.

Selling ideas are mentioned at a minimum of $1,360-1,370/tonne (€1,047-1,055/tonne) CFR (cost and freight) NE Asia on account of high feedstock naphtha prices.

Talks may commence next week, the official added.

($1 = €0.77)

By: Helen Lee
+65 6780 4359

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