January 13th - Wanhua Chemical recently announced that the Phase I ethylene unit at its Yantai Industrial Park, with an annual capacity of 1 million tons, commenced a shutdown on June 3, 2025, for feedstock diversification modifications. As of now, the feedstock modification for this Phase I ethylene unit has been fully completed. The unit now produces ethylene via ethane cracking and has already yielded qualified products. This achievement enables a flexible feedstock switching mode between ethane and propane.

Chempricehub Analysis:
Ethylene, Bull-Bear Score: -1
Following the modification of Wanhua Chemical's ethylene unit, supply has increased. With an annual capacity of 1 million tons already producing qualified products, market oversupply is anticipated, putting downward pressure on spot prices.

Ethane, Bull-Bear Score: 1
Demand for ethane as a feedstock for ethylene production has risen. The flexible feedstock mode has boosted procurement volumes, and spot prices are expected to increase due to growing demand.

Propane, Bull-Bear Score: 1
Demand for propane as a feedstock for ethylene production has increased. The feedstock diversification modifications have driven demand, and spot prices are projected to rise.