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Hyundai Cosmo shuts No.2 aromatics plant
10 Jun '14
1 min read
Hyundai Cosmo Petrochemical Co. Ltd., a 50:50 joint venture founded in November 2009 by Hyundai Oilbank of Korea and Cosmo Oil of Japan, has shut its No.2 aromatics plant owing to weak Paraxylene (PX) margins.
“The No.2 aromatics plant was shut on June 1, 2014, because of weak PX margins due to narrow spread between PX and MX,” a company official told fibre2fashion.
“The plant is likely to remain shut at least for a month, and the shutdown period can be extended depending on the market conditions,” the official informed.
The No.2 aromatics plant is located in Daesan, South Korea and has PX production capacity of 800 kt/year and benzene capacity of 120 kt/year.
Fibre2fashion News Desk - India
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