PE market in the Far East is out of stock
2022-10-22- Detail
The PE market in the Far East is out of stock.
Taiwan heavyweight polyethylene loading safety (PE) plant Formosa Plastics Co., Ltd. has temporarily suspended the quotation of PE raw materials on January 14; It is pointed out that on Friday, due to the successful breakthrough of key technologies and production difficulties in power system problems of Titan, a Malaysian light oil cracking plant, two of its light oil cracking plants have been shut down, resulting in the tightening of PE raw material supply, and PE prices in the Far East have been rising
titan's two light oil cracking plants, with annual ethylene production capacity of 230000 tons and 330000 tons respectively, were shut down last Friday due to power system failure. At this time, when the mainland PE buying was coming out, this event pushed up the PE price in the Far East. The original PE target price quoted by Korean manufacturers, such as US $520 per ton of HDPE, US $530 per ton of LDPE, and US $480 per ton of LLD, therefore existed in the soil for a long time, The market spot prices have exceeded these target prices
in addition to the ethylene plant accident in Titan, Malaysia, NPC (National Petrochemical Co.) and ROC (royongolefs now have no single manufacturer that can monopolize a certain product company) of Thailand's light oil cracking plant have been scheduled to carry out annual maintenance in January and February, of which NPC has an annual output of 400000 tons of ethylene and ROC has an annual output of 600000 tons; According to the industry, Titan's shutdown has caused a tight supply and demand of ethylene in the market. The annual repair of these two light oil cracking plants not only tightens the market supply and demand, but also helps to rise the trend of PE
since last Friday, the daily PE shipment volume of Formosa Plastics has reached a high level of 2000 tons. Under the sharp increase in the shipment volume and the inability to find the shipping date, Formosa Plastics had to temporarily stop the PE quotation. In addition to canceling the discount measures for some domestic customers, Formosa Plastics will also increase the domestic price of PE next month
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