Yangzi Petrochemical's aromatics plant burst into flames, more than 50 kinds of chemical products market may be affected

At 16:37 Beijing time on April 9, a fire broke out at the aromatics plant of Yangzi Petrochemical Co.

At 17:14 local time, the open fire was extinguished and there were no casualties. The accident did not lead to environmental pollution. The cause is under investigation.

On January 12, 2021, another subsidiary of Yangzi Petrochemical Rubber Company chemical plant explosion, the scene of open fire and a lot of smoke, the surrounding roads were quickly blocked.

Yangzi Petrochemical is an important manufacturer of chemical products in China, mainly producing pure benzene, paraxylene, o-xylene, purified terephthalic acid (PTA), ethylene glycol, butadiene and ethylene oxide. At present, the company has 58 sets of large-scale petrochemical plants, including 12.5 million tons/year of oil refining, 800,000 tons/year of ethylene and 1.4 million tons/year of aromatics, and can produce more than 50 kinds of products in 5 categories, including synthetic resin, synthetic fiber raw materials, basic organic chemical raw materials, finished oil and synthetic rubber.

It is understood that the accident device contains ethylene, PX aromatics combined device. As of December 21, 2020, Yangzi Petrochemical PX annual production exceeded one million tons for three consecutive years.

PX is one of the very important basic raw materials in chemical production, commonly used in the production of plastics, polyester fiber and film. PX as the upstream of the polyester industry chain of basic raw materials, directly affect the cost of downstream PTA.

As of April 9 China PTA spot market price at 4398 RMB / ton. since April PTA price is in an upward trend, these days there is a small drop. Yangzi Petrochemical PTA production capacity in 650,000 tons / year, is expected to have a limited impact on the market, but does not exclude the market speculation prices due to the accident.