S Korea's Hyundai Cosmo operating Daesan PX unit at 75%

03 February 2014 06:53 Source:ICIS News
SINGAPORE (ICIS)--South Korea’s Hyundai Cosmo (HC) Petrochemical is currently operating its 800,000 tonne/year paraxylene (PX) unit in Daesan at 75% of capacity, a company source said on Monday.

The unit was previously operating at around 80-85% in January, according to the source.

HC Petrochemical further cut operating rates at the 800,000 tonne/year PX unit from 1 February because of the weak margin spread between isomer-grade xylene and PX, the source added.

The spread between isomer-grade xylene and PX stood at $150/tonne on 30 January, according to ICIS data.

Typically, a healthy spread between both products is at around $200-220/tonne, according to several market participants.

The company’s other 380,000 tonne/year PX unit at the same site is currently operating at full tilt, the source added.
By Samuel Wong