ETHYLENE PRICES DROP IN ASIA ON TUESDAY

Ethylene prices witnessed a drop in Asia, on Tuesday. Prices fell, as demand trends continued to remain bearish coupled with weaker upstream crude and naphtha values.

Weaker downstream PE demand and pricing trends, further supported the price drop.

CFR North East Asia ethylene prices were assessed lower at the USD 550/mt level, a day on day fall of USD 20/mt.

CFR South East Asia prices were assessed down at the USD 520/mt levels, a drop of USD 5/mt from Monday's assessed levels.

In plant news, Lotte Chemical, South Korea has undertaken an emergency shutdown at its Deasan cracker, following a blast reported on early Wednesday. The cracker has an ethylene capacity of 1.1 million mt/year and propylene capacity of 540,000 mt/year.

In other plant news, JXTG Nippon Oil and Energy, has undertaken a planned shutdown at its cracker, on February 27, 2020. The cracker is likely to remain under maintenance for a period of around 6-7 weeks. Located at Kawasaki in Japan, the cracker has an ethylene production capacity of 460,000 mt/year and propylene production capacity of 235,000 mt/year.

Tosoh Corp, has undertaken a maintenance shutdown at its naphtha cracker on March 4, 2020. The cracker is expected to remain under maintenance till April 21, 2020. Located at Yokkaichi in Japan, the cracker has an ethylene production capacity of 527,000 mt/year and a propylene production capacity of 315,000 mt/year.

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