China’s Zhejiang Petrochemical unexpectedly shut down LDPE unit
Spot availability for LDPE in China has been relatively tight for months and the incident is likely to keep the firming trend in place, sources added.
According to market sources, Zhejiang Petrochemical reportedly shut its LDPE plant in Zhejiang province, China on 04 June 2024 due to an unspecified technical issue. Attempts to bring the unit online have been unsuccessful so far, and the producer has informed customers about the potential impact on the monthly allocation.
The plant has a nameplate capacity of 400,000 tons/year.
Several Chinese buyers reported to have received notification from the producer that their LDPE allocation for June would be cut by as much as 25% due to the shutdown.
Spot availability for LDPE in China has been relatively tight for months and the incident is likely to keep the firming trend in place, sources added.