05 May 2008 07:38 [Source: ICIS news]
SINGAPORE (ICIS news)--South Korea’s Hanwha Chemicals plans to cut operating rates at its 550,000 tonne/year caustic soda plant in Yeosu by 5-10% for a week starting 12 May, a source close to the company said late Friday.
The Yeosu chlor-alkali plant was reducing its operating rate because several of the company’s major downstream chlorine customers were scheduled for turnarounds over 12-19 May, the source said. Chlorine and caustic soda are manufactured using the same production process.
The source expected a loss of 3,000-4,000 dry tonnes of caustic soda due to the operating rate cut.
Asian caustic soda was last week assessed at $380-400/tonne FOB (free on board) northeast Asia according to global chemical market intelligence service ICIS pricing, with market players generally bullish due to tight supplies and strong demand.
For more on caustic soda visit ICIS chemical intelligence
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