11 July 2008 04:30 [Source: ICIS news]
SINGAPORE (ICIS news)--South Korean synthetic producer LG Chem will shut down its 80,000 tonne/year butadiene rubber (BR) plant in Daesan in August for debottlenecking, a company source said on Friday.
“We will shut down on August 14 for 10 days to debottleneck the plant to 100,000 tonnes/year,” the source added.
Demand for BR has been robust, with prices rising by more than $700/tonne since early May to around $3,800/tonne CFR (cost and freight) Asia.
BR producers are now targeting $4,000/tonne CFR Asia for August cargoes, citing costs pressures and tight supply.
“We have sold out our stocks for July and have no spot availability. We will increase our spot offer to $4,000/tonne CFR Asia for August,” the source at LG Chem said.
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