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(ICIS) -- Southeast Asian
olefins spot prices could hit fresh highs this week if major supplier Shell
keeps buying spot ethylene cargoes due to an ongoing outage at its 800
KTa cracker in Singapore, market sources said on Monday. Shell failed to
restart the mixed-feed cracker in Bukom Island over the weekend and the facility
is not likely to resume operations until May due to ongoing technical issues,
they said.
Ethylene touched a 14-month high of USD 1.320-1.400/tonne (EUR
911-966/tonne) CFR (cost and freight) SE (southeast) Asia last week, while
propylene rose to USD 1.500-1.560/tonne CFR (cost and freight) southeast (SE)
Asia – the highest since 5 September 2008 – amid tightened supply in the region,
according to ICIS data.
Shell’s cracker in Singapore has been down since 18 March and was
initially expected to restart on 10 April, but operational problems at the unit
persisted, market sources said.
mrcplast.com
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