A fire broke out at a motor control center transformer at South Korean producer GS Caltex's refinery and petrochemical complex at Yeosu early Wednesday morning, market sources said.
This has led to the shutdown of the No. 2 continuous catalytic reformer, the sources added.
A source close to the company said that a Parex unit, which separates paraxylene from mixed xylenes, was also shut, while the toluene disproportionation unit and other toluene-to-PX units were operating as usual. If the No. 2 CCR, one of two CCRs, remains shut for a long time, the company would have to consider cutting the operating rates of the TDP unit and other toluene-to-PX units as well, the source said.
The company refused to comment, only saying that it was waiting for a detailed report from the plant management. It could only comment after receiving the report, the company source said.
Bids for September- and October-delivery PX were up Wednesday morning in spite of weaker upstream and downstream markets. As of 0250 GMT, September bids were at $836/mt while October was bid at $843/mt CFR.
Asian PX was assessed at $836.33/mt CFR Taiwan/China Tuesday.
