International Plant Shutdown NewsInternational Plant Shutdown News
- ABEL Chemical goes for indefinite shutdown in its Styrene Monomer PlantABEL Chemicals with an installed capacity of 250 KT Styrene Monomer at Jiangsu, China underwent an indefinite shut down with no prior information on the date for resuming of operations. This temporary shutdown is anticipated to be influenced by slowdown in international chemical sector that has caused a plunge in demand for the products.
- Saudi Aramco to shut its largest refinery for 6 weeks from June 1, 2020Oil producing giant, Saudi Aramco has reported to shut its largest oil refinery for a period of 5-6 weeks from June 1, 2020. The purpose of turnaround is to connect new units and replace the older ones for obtaining cleaner and superior quality fuel. Moreover, the company has announced the addition of a new catalytic reforming unit having 90,000 bpd capacity along with several other units.
Asia Chemical Price Scenario (Top Products)
• Acrylonitrile-butadiene-styrene (ABS): ABS producers slashed the product cost as the feedstock Styrene Monomer (SM) and Butadiene witnessed downward pressure. ABS prices CIF NS, Mumbai were around USD 1290-1300/MT.
• Styrene Monomer (SM): Styrene Monomer CFR prices dropped to about $500 per MT due to fall in the feedstock benzene.
• Polypropylene: Polypropylene (PP) prices followed a downtrend due to muted demand in the APAC region amid coronavirus related lockdowns. PP prices CFR Asia stood around $ 800/tonne.
• PET: Bearish upstream markets have continued to affect PET prices in Northeast Asia with its prices hitting a record low at $700/tonne FOB.
• Paraxylene: Paraxylene prices in Southeast Asia witnessed a gradual recovery and were marked at $ 490/ tonne CFR China.
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