Shenghong Refining and Chemical 16 million Ton Unit Starts 45-Day Overhaul: Analysis of the Impact of the World's Largest PX Line Shutdown Chain

Overview and Background of 1. Maintenance

on June 21, 2026, Dongfang Shenghong announced that its 16 million-ton/year refining and chemical integration project in Xuwei New District of Lianyungang (with a total investment of about 67.7 billion yuan) will start periodic comprehensive shutdown and maintenance at the end of June, with a net maintenance period of about 45 days. Some supporting devices will be stopped as needed, and the specific resumption time will be subject to the actual driving situation. The project will be fully put into operation by the end of 2022, and this is the last four years since it was put into operation. First complete shutdown for maintenance it belongs to the category of conventional periodic overhaul in the petrochemical industry, which also confirms the reliability record of the device's continuous and stable operation for nearly four years.

2. Device Scale and Industry Chain Position

the core unit of the project is of industry landmark significance: the 16 million-ton/year atmospheric and vacuum distillation unit is domestic single set of the largest the scale effect is significant and the unit consumption is lower than the industry average; the 2.8 million t/a PX plant is world's Largest Single Series Unit the two-stage re-slurry recovery process, which is the first to be introduced in China and has been autonomous, is adopted; the total amount of continuous re-engineering is 3 x 3.1 million tons/year. The largest domestic; 1.1 million tons/year ethylene cracking plant supporting the complete downstream derivatives production capacity. The project adheres to the concept of "more chemical less oil, molecular refining", and the output of chemicals accounts for a large proportion. 70% it is one of the refining and chemical integration projects with the highest proportion of chemicals in China. The project has been planned to start in 2014, to receive capital support for backdoor listing in 2018, and to be fully put into operation in 2022. It supports Dongfang Shenghong to open up the vertical integration of the whole industrial chain of "crude oil-PX/EG-PTA-polyester-chemical fiber" and realize the independent and controllable closed loop of "one drop of oil to one silk.

3. Supply Chain Impact and Trade Advice

during the overhaul, the world's largest single-line PX plant and supporting aromatics, ethylene/EG production capacity will be phased contraction, directly transmitted to the PTA and polyester raw material procurement rhythm. It is recommended that traders related to PX, PTA and polyester chemical fiber industry chain closely follow the announcement of Shenghong's resumption of production, optimize the inventory structure in advance, pay attention to the risk of regional base difference and price fluctuation, and reasonably avoid the cost pressure brought about by the tight supply phase.