UPDATE: South Korea’s Ulsan Polypropylene started marketing cargoes from new plant

It is reported that Ulsan Polypropylene (UPP) – a joint venture between PolyMirae Company Ltd and SK Advanced, has started marketing PP cargoes from its new plant in Ulsan, South Korea.

Over the past week, the company has been offering homo-PP yarn and injection parcels to Vietnam at $1240/ton CIF term – the lowest for non-dutiable origins at the moment. 

The plant uses Spheripol PP technology licensed by LyondellBasell and receives propylene feeds from the nearby SK Advanced’s PDH plant. The PP unit has a production capacity of 400,000 tons/year.

PolyMirae is a joint venture between LyondellBasell (50%) and Daelim (50%), currently operating 4 PP Spheripol production lines in Yeosu with a total capacity of 700,000 tons/year.

SK Advanced is a joint venture within SK Gas, Advanced Petrochemical Company, and Petrochemical Industries Company, and operates a 600,000 tons/year PDH plant in Ulsan.