Formosa Plastics USA to shut Point Comfort, Texas, cracker for system check: sources

Petrochemical producer Formosa Plastics USA's cracker totaling 1.5 million mt/year ethylene unit in Point Comfort, Texas was shut until early to mid-January, sources said Dec. 22.

The company was not available to comment.

The company wanted to check all the systems to ensure it can run at top capacity, according to sources familiar with company operations.

The cracker came online Jan. 15.

S&P Global Platts last assessed spot Mont Belvieu ethylene for front-month December at 33 cents/lb FD Mont Belvieu Dec. 21, flat with Dec. 18. Forward-month January Mont Belvieu ethylene was assessed at 31 cents/lb FD Mont Belvieu, also flat with Dec. 18.

December Choctaw ethylene was assessed at 32 cents/lb FD Choctaw, unchanged from Dec. 18. Forward-month January Choctaw ethylene was assessed stable with Dec. 18 at 30.25 cents/lb FD Choctaw.

Domestic contracts were unsettled for the month.