|
(Plastemart) -- China turned into a
net importer of naphtha last year following an increase in the number of
petrochemical plants. In 2009, China was net short of nearly 1.8 mln tons of
naphtha, and up to January-September 2010, it was net short of close to 1.2 mln
tons (average of 133,000 tons/month) , as per Reuters.
If growth in imports in China continues through early 2011, the Chinese
players may have to compete for cargoes with South Korean petrochemical makers,
who are in the process of expanding capacities. LG Chem
and Samsung Total are expanding cracker capacities by 2011 to
capitalise on recent strong margins, while SK Energy will restart a 200,000 tpa
cracker this month after a two-year shutdown.
mrcplast.com
|
