29 May 2007 09:38 [Source: ICIS news]
SINGAPORE (ICIS news)--Major Japanese styrene monomer (SM) producer Asahi Kasei Chemicals will cut the operating rate at its 320,000 tonne/year SM unit by half from 1 June for about two weeks to carry out repairs, a company source said on Tuesday.
In light of the cutbacks in output, Asahi will have no spot cargo available for June shipment. It will also delay the loading of its June contract cargoes by four to five days.
The No 2 unit at Mizushima has been running at about 90% capacity since last Friday, when a fault was detected. A team of engineers is now carrying out an investigation to identify the cause of the problem.
“We will operate at a reduced rate of 50% for about two weeks for the repairs to be carried out,” a company source said.
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SM spot business was concluded on Monday at $1,400/tonne FOB (free on board)
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