07 January 2009 10:03 [Source: ICIS news]
SINGAPORE (ICIS news)--Taiwan’s Dairen Chemical Corp shut its remaining 350,000 tonne/year No 3 vinyl acetate monomer (VAM) line in Mailiao as planned in late December due to poor market conditions, a company official said on Wednesday.
"We shut the remaining No 3 line in late December instead of operating at a loss," he said in Mandarin.
The producer had shut its 300,000 tonne/year No 2 line at the same site in early October 2008 due to weak demand.
Dairen also has a 120,000 tonne/year No 1 line at Tasheh, but it was mothballed several years ago.
VAM prices in Asia nosedived 49.5% to $680-770/tonne CFR (cost and freight) NE (northeast) Asia as last assessed on 19 December by global chemical market intelligence service ICIS pricing.
This was off January 2008 highs of $1,410-1,460/tonne CFR NE Asia.
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