YNCC adds to South Korea's SM disruptions
South Korean petrochemical producer YNCC has shut its 285,000 t/yr Yosu-based styrene monomer (SM) unit today after off-specification styrene was produced. The polymers content was higher than usual.
Market participants expect YNCC to restart this unit in a week. While the producer expects to be able to maintain the volume of SM supplies committed to customers, some extension to delivery dates can be expected.
This adds to South Korea's SM production woes. Hanwha Total on 27 July was unable to operate both its SM production lines with a total capacity of 1.1mn t/yr after its electricity tower supply was hit by lightning. The producer will restart the two lines this coming weekend.
Although these production issues have had little impact on cfr China prices, some cfr South Korea buying interest emerged to cover the prompt requirements in case of any supply shortfall. About two cargoes were bought from northeast Asian sources to be delivered to South Korea.
source: Argus Media
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