22 January 2009 11:13 [Source: ICIS news]
SINGAPORE (ICIS news)--Taiwan’s Lee Chang Yung Chemical Industry (LCY) restarted its ethylene-based ethyl acetate (etac) plant in Linyuan on 16 January due to improved margins following a plunge in feedstock ethylene values last year, a company official said on Thursday.
The company’s 50,000 tonne/year plant had been idled for more than a year due to poor margins before the correction in ethylene values.
"We are currently running the plant at almost full capacity, but we are still monitoring the market situation to see if we should continue with the production," the official said in Mandarin.
Feedstock ethylene spot values recently rebounded to around $650/tonne CFR (cost and freight) NE (northeast) Asia, up an average of $50/tonne from December levels.
"Given the current raw material costs, our cost of production is around $620-630/tonne," he said, adding that it was workable in the current market climate.
Taiwanese domestic etac prices were stable at New Taiwan dollar (NT$) 24.5/kg ($0.73/kg) ex-tank this week.
($1 = NT$33.58)Please visit the complete ICIS plants and projects database
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