Samsung BP to turn around acetic acid unit

11 September 2008 08:03  [Source: ICIS news]

SINGAPORE (ICIS news) -- SAMSUNG BP Chemicals (SSBP) plans to shut down its 420,000 tonne/year acetic acid unit at Ulsan, South Korea, in end-October for a 25-day turnaround, a company official said on Thursday.

 

This, however, was unlikely to be a stimulant for the bearish market in light of generally high producer inventories, he said, echoing the sentiment of other producers and buyers.

 

“Although demand is expected to improve in October as most downstream plants around Beijing and eastern China areas will start up, the impact of SSBP’s shutdown will not be as major as in past years due to multiple capacity expansions in the Chinese domestic market this year,” a Jiangsu-based producer said.

 

Spot price indications for acetic acid in northeast Asia hovered between $590-640/tonne (€419-454/tonne) CFR (cost and freight), with trade hindered by a wide buy-sell price gap.

 

($1 = €0.71)

 

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By: Helen Lee
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