South Korea's YNCC to shut No. 3 ethylene cracker on poor market conditions
South Korean petrochemical company Yeochun NCC (YNCC) will shut its No. 3 ethylene cracker starting from August 8 in response to poor market conditions, three industry sources said on Wednesday.
The length of the shutdown at the cracker in Yeosu, with a capacity of 470,000 metric tpy, is unclear; however, two of the sources said the naphtha-cracking unit may not return to operations. The sources declined to be named because they were not authorized to speak to the media. YNCC declined to comment.
South Korean companies are running their petrochemical crackers at a utilization rate of around 80% this month, the third source said, adding that YNCC's No. 1 and 2 crackers at the Yeosu site are enough to produce around 83% of total ethylene capacity of YNCC.
The company can produce 2.28 MMtpy of ethylene and 1.28 MMtpy of propylene at the site.
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