Japan’s Mitsui Chemicals lifts cracker rates to 90% in January

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.

By Felicia Loo