30 June 2005 11:49 [Source: ICIS news]
ROME (CNI)--The ConocoPhillips benzene hydrodealkylation (HDA) unit at Immingham, UK will go down for a three-week unplanned outage from the beginning of July, adding to the strength of the benzene spot market, a company official said on Wednesday at the European Petrochemicals Luncheon (EPL).
The shutdown of the 95,000 tonne/year unit will reduce the company's output of benzene in July by one third, the official added. The site's other 105,000 tonne/year benzene unit will run normally throughout the month.
The outage was caused by a technical problem at the HDA unit.
The absence of this benzene from the European market in July will contribute to the current strength of the benzene spot market, market sources told global market intelligence and price reporting service ICIS-LOR*.
Spot prices have increased by around $250/tonne during June, and this is due to result in a major increase in the July benzene contract price.
Industry players at Wednesday's EPL meeting believed that the July contract would see an increase of Euro200-210/tonne over the June level of Euro529/tonne free on board (FOB) Northwest Europe.
*ICIS-LOR is owned by the same publishing group as CNI.
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