Introduction: The current total production capacity of South Korea’s ethylene glycol plants is 1.65 million tons. The sudden accident at South Korea’s Lotte Chemical Plant resulted in a loss of 730,000 tons of South Korea’s ethylene glycol production capacity. Accounting for 44.24% of South Korea’s total production capacity. Will it have an impact on China’s ethylene glycol market?
News: On the morning of March 4, the ethylene cracking unit of Lotte Chemical in Seosan, Chungnam, South Korea exploded. . Involved production capacity: ethylene production capacity of 1.1 million tons, propylene production capacity of 550,000 tons, butadiene production capacity of 190,000 tons, styrene 577,000 tons, and MEG 730,000 tons.
At present, the total production capacity of South Korea’s ethylene glycol plants is 1.65 million tons. The sudden accident at South Korea’s Lotte Chemical Plant resulted in the loss of 730,000 tons of South Korea’s ethylene glycol production capacity. Accounting for 44.24% of South Korea’s total production capacity. Will it have an impact on the domestic ethylene glycol market?
As we all know, my country is a country with a large demand for ethylene glycol, and more than half of its ethylene glycol needs to be imported. my country’s top three importing countries and regions are Saudi Arabia, Taiwan, and Canada. South Korea’s import volume accounted for 5.44% last year. Ranking fifth is a non-major ethylene glycol importing country. my country’s total ethylene glycol imports in March last year were 701,400 tons, and South Korea’s ethylene glycol imports in March were 37,600 tons, accounting for 5.3% of the total imports. Therefore, this incident has a smaller impact on the domestic market, but it can still Alleviating certain port inventory pressure. From another perspective, South Korea has been greatly affected by the new pneumonia epidemic recently, and the number of infections continues to increase. Even if there are no emergencies, my country may restrict imports of ethylene glycol from South Korea in the future.
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