29 July 2008 08:22 [Source: ICIS news]
SINGAPORE (ICIS news)--South Korean synthetic rubber producer LG Chem has ramped up operating rates at its 50,000 tonne/year nitrile rubber (NBR) plant to 70% following its restart just over a week ago, a company source said on Tuesday.
The NBR plant in Daesan was shut down on 10 July for debottlenecking, where is was expanded from 35,000 tonnes/year to the current capacity.
Meanwhile, soaring feedstock butadiene (BD) costs as well as tight supply and robust demand have spurred NBR producers to hike offers for August shipments by more than $300/tonne to $3,500-3,600/tonne CFR (cost and freight) ?xml:namespace>
However, one Korean NBR producer has spiked August offers to $4,000/tonne CFR (cost and freight)
“We have no spot cargoes and we have no choice but to push up the price to $4,000/tonne due to soaring BD feedstock cost,” the producer said.
BD spot prices have surged by more than $400/tonne in the past month to around $3,350/tonne CFR NE Asia (northeast
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections