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Floods devastate Taiwanese petrochemical sector
21
Sep '10
Heavy rains following the Typhoon Fanapi have ravaged the Southern region of the country, leading to closure of leading petrochemical factories in Kaohsiung County.

All petrochemical complexes in Renwu and Dashe petrochemical parks remained closed on September 19. The complexes included CPC Corp. Taiwan, USI Corp., TSRC Corp., China Petrochemical Development Corp., China Man-Made Fiber Corp. and Grand Pacific Petrochemical Corp.

This is giving anxiety about probable fluctuations in the prices of key petrochemical products like ethylene, propylene, butadiene, PE, ABS, SM, CPL, AN, EG and SBR.

According to an expert, if these companies are required to close down manufacturing activities for over a week, it would considerably affect supplies and in turn prices.

Woody Duh, Director of the Industrial Development Bureau under the Ministry of Economic Affairs, stated that, hit with electricity crisis and flooding, they don't see production volumes resuming back to normal, instantaneously.

Massive floods compelled around 100 companies in greater Kaohsiung region to remain closed on September 19, with all industrial areas in Luchu, Gangshan, Ciaotou, Renwu and Dashe districts submerged in rain waters.

The petrochemical industry alone, is believed to have suffered a loss of NT $ two billion on account of heavy floods.

According to the industry experts, there are possibilities that prices of PE, EG and other petrochemical derivatives may rise in spot markets.

Fibre2fashion News Desk - India

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