Fire on Maoming Petrochemical, no impact on polymers

According to market sources, Sinopec Maoming Petrochemical Company Limited has encountered an unexpected fire on its ethylene plant today. According to the source closed to the company, this incident create no impact on its polyolefins plants.

Located in Guangdong, China, the company has a production capacity of 1.05 million ton/year of ethylene. The reason for the incident remained unclear.

"Market players have been sensitive toward the circumstances on the plant issues these days with the firmer global trend for polyolefins. Although it is claimed that this incident is not having any affect on the supplies, however, we believed that this will be one of the reasons for further speculations on upcoming market trends," a trader from Guangzhou said.

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