Profits plummeted by 35% and styrene giant reduced production by 80%
Release time:
2021-11-18
Source:
Website
Due to low profits, Hanhua total, Asia's largest styrene producer, decided to temporarily reduce the load of styrene monomer unit located in Daesan Petrochemical Park, Ruishan City, Zhongqing south, South Korea.
The company said that the load reduction is about 20%. If the profit of styrene can not be improved, the company will maintain or even operate the styrene unit at a lower load for a long time. According to statistics, Hanhua total has 1.6 million tons of styrene plant, of which the styrene production capacity in Dashan is 1.05 million tons / year.
The main buyers of styrene in Asia come from China. However, with the commissioning of 650000 T / a styrene unit of China Wanhua chemical and the restart of 120000 T / a styrene unit of Sinopec baling, the supply in the Chinese market continues to increase. In recent years, China's styrene import has shown an overall downward trend. From January to April 2021, China's styrene import was 619700 tons, a year-on-year decrease of 38.55%.
According to statistics, the profit of styrene in November was about US $207 / T (about 1321 yuan / T), about 35% lower than US $320 / T (about 2043 yuan / T) in early June.
Due to the chip crisis in the automotive industry and the surge in raw materials, tec salzwedel, the world's leading manufacturer of automotive seals and rubber, recently filed for bankruptcy protection. The company mainly produces EPDM gaskets, profiles and TPV production accessories. At present, the company's equipment is fully produced.
It is reported that by January 2022, the wages of the company's workers will be paid by the bankruptcy funds of the labor bureau. Some insiders said that if the order situation in 2022 is improved, the company may continue to maintain it.
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