Global naphtha markets continue to tighten from the impact of extra manufactur- ing activity on plastics demand and a seasonal peak in gasoline consumption. Demand for naphtha in Asia-Pacifc is climbing, helped by a global economic recovery weighted heavily to manufacturing. Two new petrochemical plants have opened in South Korea over the past month. Refner and petrochemicals producer GS Caltex started up a 700,000 t/yr cracker at Yeosu on 3-4 July. And South Ko- rea’s largest petrochemicals producer, LG Chem, has brought its new 800,000 t/ yr cracker, also at Yeosu, to nearly full capacity after starting it up in mid-June. Between them, the plants will process up to 110,000 b/d of naphtha as feedstock. And Japanese petrochemical frms are undertaking less maintenance and running their plants harder this year to keep up with higher demand for plastics.
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