China’s Zhejiang Petrochemical unexpectedly shut down LDPE plant
This sudden disruption comes at a critical time, as the local LDPE market has been trending upward in recent weeks, driven by mounting concerns over reduced import volumes for August.
Zhejiang Petrochemical Co Ltd’s LDPE unit was abruptly taken offline on Monday, 10 August 2024, due to an unspecified technical failure, according to market sources.
The LDPE unit, which is part of the Phase II complex located in Zhejiang, China, boasts a significant production capacity of 400,000 tons/year. The plant is expected to remain out of operation for approximately 10 days.
This sudden disruption comes at a critical time, as the local LDPE market has been trending upward in recent weeks, driven by mounting concerns over reduced import volumes for August. The unexpected shutdown at Zhejiang Petrochemical is likely to exacerbate these supply constraints, potentially intensifying the uptrend in the near term.
Written by: Kat Yun Yun