South Korea’s Hyundai Chemical started marketing cargoes from the new plant

According to market sources, Hyundai Chemical – a joint venture between South Korea’s Lotte Chemical and Hyundai Oilbank has started to market cargoes from the new petrochemical plant in Daesan this week.

Chinese customers informed CommoPlast of having received offers for on-spec homo-PP cargoes from the newly started-up plant at $1160/ton CFR China, which are relatively competitive. It is reported that several thousand tons have been sold today. 

Meanwhile, off-grade cargoes from the producer are being offered in Vietnam at the time of this report. It is expected that more quantities from the producer would emerge in the near term. 

The petrochemical complex houses a cracker with an annual output of 850,000 tons of ethylene. Downstream units include an 850,000 tons/year PE line and a 500,000 tons/year of PP lines.