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PX plant O/R expected to rise

2022-05-26 08:05:46 CCFGroup

Several PX plants in Asia are going to restart or shut for maintenance recently.

	Country	Company	Capacity (kt/yr)	Plant operation
O/R rise	China	CNPC Sichuan	750	O/R increasing by 15% this week
O/R rise	China	Sinopec Luoyang	230	O/R increased to 90%
O/R rise	China	ZPC	9000	O/R increased from 65% to 70%
Restart	China	Sinopec Yangtze	890	350kt/yr line to restart on May 16, other line undecided
Restart	China	Dongying Weilian	1000	To resume PX production next week
Restart	Vietnam	NSRP	700	Shut on Apr 20, to restart on May 21
Restart	China	Sinopec HRCC	660	To resume PX production in early Jun
Maintenance	China	Sinopec HRCC	1000	Restart date undecided
Maintenance	Japan	ENEOS	680	Shut in end-Apr for 3 months
Maintenance	Taiwan, China	FCFC	300	Shut on Apr 11 for 50 days
Scheduled maintenance	China	Sinopec ZRCC	750	To shut in end-May for 4 months
Scheduled maintenance	China	Zhongjin Petrochemical	1600	Undecided
Scheduled maintenance	South Korea	SK/JX	1000	To shut in late May for 30 days
Scheduled maintenance	South Korea	S-Oil	770	To shut in early Jun for 45 days
New plant	China	Sinopec Jiujiang	900	To begin PX production in early Jun

Besides from the shutdowns and restarts above, there’s also market news saying that a PX producer in South China plans to shut its lines with combined PX capacity of 1.6 million mt/yr in Jun, however, the details are unconfirmed and the shutdown would last for a short period if its lines were to shut.

It is also said that a PX producer based in India shuts its lines with combined PX capacity of 4.35 million mt/yr. However, in spite of some plant operation interruptions, it is unconfirmed how much of the capacity is shut, and how long the shutdown will last. According to the feedback from downstream clients, PX supplies have not been suspended but delivery of goods to some clients are delayed. Therefore, it is unlikely that all the capacity is shut for a long period.

Estimated based on the plant operations (excluding the unconfirmed maintenance), China and Asian PX plant operating rate is expected to start increase gradually in mid-May. The average operating rate is estimated to reach 80-85% in Chinese mainland and 80% in Asia (including China) by late Jul, approaching 2-year high.

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