South Korea’s Lotte Chemical to suspend sale of OX export cargoes

17 June 2013 11:27  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s Lotte Chemical will suspend sales of orthoxylene (OX) spot cargoes amid plans to reduce run rates at its paraxylene (PX)/OX unit in Ulsan later this month, a company source said on Monday.

The unit has a nameplate capacity of 775,000 tonnes/year of PX and 230,000 tonnes/year of OX, according to the company source. The unit has two production lines for each product.

The company operates a 90,000 tonne/year No 1 OX line as well as a 140,000 tonne/year No 2 OX line in Ulsan.

“Lotte will operate OX plant only to meet the contract volume and stop selling spot cargo for the time being,” the source added.

OX prices have been on the downtrend since 19 April on the back of poor demand from the downstream phthalic anhydride (PA) sector.

By: Hazel Kumari
+65 6780 4327

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