Formosa shuts ethylene plant after mechanical faults

Mechanical faults have forced Taiwan's Formosa Petrochemical Corp. to shut one of its three ethylene plants. The 700,000 tpa of ethylene plant is estimated to stay closed for about 10 days for repairs to the plant's compressor. The unplanned shutdown may boost prices of ethylene, that have already seen approximately 30% hike in prices since late June.
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