Oman’s OQ Chem started marketing PE cargoes from new plant to Asia

Oman’s OQ Chemicals has begun to market its PE cargoes from the newly started up plant at the Liwa Plastics Industries Complex (LPIC) to Asia this week at relatively competitive price levels to promote its presence in the region.

In China, a good number of cargoes from the producer is concluded at $1130-1140/ton for HDPE film, $1100/ton for HDPE blow molding and injection molding, and at $1310/ton for PP block copolymer, all based on CFR China, May 2021 loading. 

In Vietnam, offers for HDPE blow molding, film, and injection stand at $1270-1280/ton while LLDPE film is at $1280/ton, all based on CIF Vietnam, LC AS term. Buyers are currently placing bids for the cargoes.

In India, sources reported that the producer is offering HDPE film at $1270/ton CIF, which attracts a good buying interest given the fact that other suppliers are offering this grade around the $1350/ton mark.

OQ Chemicals is the first PE plant in Oman, owned by ORPIC, state-own oil and gas company OOC, and seven other local firms.

The new plant houses an 880,000 tons/year steam cracker adjacent to the existing refinery. Downstream units include an LLDPE line with an annual capacity of 440,000 tons/year, a 440,000 tons/year HDPE line, and a 300,000 tons/year PP plant.

The company changed its name from Liwa Plastics Industries Complex (LPIC) to OQ Chemicals in May 2020.