The value of petrochemical products produced in Taiwan fell to NT$ 457.8 billion (US$ 15.28 billion) in January-March 2013, showing a decline of 8.1 percent year-on-year compared to production worth NT$ 498.31 billion achieved in same period of last year, according to a Government report.
The Industry and Technology Intelligence Services (ITIS), a research institute under the Ministry of Economic Affairs, attributed the decline to falling prices of petrochemical products on weaker global demand.
Though prices of petrochemical products increased at the beginning of the quarter, they decreased during the later part of the quarter. The prices of ethylene dipped 5.5 percent month-on-month to around US$ 1,360/ton in March 2013, the ITIS report said.
However, Taiwan’s first quarter petrochemical output was 3.5 percent higher than the production worth NT$ 442.36 billion registered in the fourth quarter of 2012, the report added.
In the second half of 2013, CPC Corp., Taiwan would be adding additional capacity at its naphtha cracking facilities, which is expected to boost the country’s total petrochemical output in 2013.
Source:
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