NEWS
Petrochemical  

China Luxi Chemical achieves on-spec CTO

Chinese petrochemicals firm China Luxi Chemical has achieved on-specification production at its new olefins plant in Liaocheng, Shandong province.

Methanol feed-in took place on 29 November and on-specification ethylene and propylene was reached on 30 November. The plant, which can produce up to 120,000 t/yr of ethylene and 180,000 t/yr of propylene at capacity, is part of Luxi's coal-to-olefins (CTO) complex.

Luxi's upstream 800,000 t/yr coal-based methanol unit was brought on line at the end of 2018.

The firm issued a tender early last week to buy 1,000 t/week of methanol in the domestic market for its new olefins plant, which consumes 900,000 t/yr at capacity. The plant has removed 800,000 t/yr of methanol supplies from the Shandong market and is expected to lend some support to domestic prices. But falling methanol futures is still having a negative impact on prices.

The CTO complex also supplies propylene to Luxi's oxo-alcohol production facility. Luxi is China's largest oxo-alcohol producer, with a capacity of 780,000 t/yr.

Luxi is now partially owned by Chinese state-controlled trading firm Sinochem. The latter acquired a 39pc stake in Luxi at the end of October.

News No: 7697
Date: 2019/12/02 - 19:50
News Source: Argus Media

China  Chemical  Shandong province  petrochemicals  market 

Comments:

Leave a Comment:

   
   
   
 

Rouhani inaugurates energy projects worth over $2b in 3 provinces

Iranian President Hassan Rouhani inaugurated three energy projects worth $2.14 billion in three provinces via video conference on Thursday, Shana reported.
 

PSEEZ enjoys high potential for investment

Nooshin Rahgozar, the commercial attaché of the Belgian embassy in Tehran, says that Pars Special Economic Energy Zone (PSEEZ) enjoys some high potential for investment making, Shana reported.
 

Capital market absorbs $12b in a quarter

The amount of liquidity absorbed by Iran’s capital market has reached 500 trillion rials (about $12 billion) during the first quarter of the current Iranian calendar year (March 20-June 20), the head of Iran’s Securities and Exchange Organization (SEO) announced.
 

Mahshahr’s butane chain project to realize 2nd leap in petchem sector

The first project in the butane chain in Mahshahr will be ready for operation with the aim of commercial production of three important and new items, parallel with planning for realization of the second petrochemical leap in Iran, Shana reported.
 WEEKLY STEEL SCRAP:

Turkey keeps buying, Asia bulk markets go quiet

Turkish steel producers remained active in the market for import scrap in the week ending Friday June 12, while prices for bulk scrap in Japan and Vietnam appear to hit a ceiling as activity slowed.
 

Forex at 20-Month High in Tehran Market

Major currencies on Thursday hit the highest rates since September 2018 with the dollar traded at 180,000 rials in Tehran’s open market.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners