16 January 2014 08:58 [Source: ICIS news]
SINGAPORE (ICIS)--Japan's Mitsui Chemicals has raised the operating rate at its two crackers to about 90% of capacity this month from 80-85% in December, a source close to the company said on Thursday.
The company has a 450,000 tonne/year cracker in Osaka and a 617,000 tonne/year cracker in Chiba.
Stronger olefin prices prompted the increase in cracker production rates, the source said.
Ethylene spot prices in northeast Asia rose by $20/tonne to $1,520-1,560/tonne CFR (cost and freight) NE (northeast) Asia in the week ended 10 January, according to ICIS.
In southeast (SE) Asia, ethylene spot prices increased by $25/tonne at the low end to $1,440-1,490/tonne CFR SE Asia over the same period.
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