Mitsubishi Gas Chem to shut PTA unit in Aug

05 July 2007 03:01  [Source: ICIS news]

SINGAPORE (ICIS news)--Mitsubishi Gas Chemical (MGC) plans to shut its 250,000 tonne/year terephthalic acid plant at Mizushima in Japan between 27 August and 22 September, two sources close to the company said late on Wednesday.

“The plant will be shut for slightly less than one month,” said the first source, who added that supply to contract customers would not be affected given ample inventories at MGC and business partner Mitsubishi Chemical.

“But because of the shutdown, the supply situation within Japan will be tight in September,” the second source said.

Dia Terephthalic Acid, the marketing joint venture between MGC and Mitsubishi Chemical for products produced by MGC, was thus likely to have no exports for August and September.

The shutdown is not expected to have any impact on terephthalic acid prices, which stood at $910/tonne CFR (cost and freight) China on Wednesday, stable to firm from $905-910/tonne CFR earlier this week.

By: Salmon Aidan Lee
+65 6780 4359

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