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GS Caltex has started to market the outputs from the newly constructed HDPE plant in Yeosu, South Korea as buyers in Indonesia and China have received offers for prime grade cargoes over the past week.

In China, sources informed of having received offers for prime grade HDPE injection at $1000/ton CFR China from the maker, for June-July loading. “We were invited to join in a bid for 10,000 tons, however, we only purchased 300 tons this time. The market is weak; hence we prefer to be cautious,” a trader reported.

The new plant is a 50-50 joint venture between GS Energy Corp. and Chevron Corp., costing 2 trillion won ($1.84 billion) that started construction work in 2019. 

The new HDPE unit has an annual capacity of 500,000 tons/year that concentrates on producing the film (TR-144, TRB-115), blow molding (5520BN or BM593), and injection (6060 or 6060UV) grades.     

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China  South Korea