23 September 2009 16:24 [Source: ICIS news]
SINGAPORE (ICIS news)--India’s Deepak Fertilisers and Petrochemicals Corp plans to shut its 70,000 tonne/year isopropanol (IPA) plant at Mumbai, in Maharashtra state, in mid-October for an annual turnaround, company sources said on Wednesday.
The plant, which is currently operating at full capacity, would be shut for 12 days, company sources said.
Industry sources said the shutdown would lead to tight supply in the domestic market, which had only reached a balance between supply and demand after months of low inventories.
"Deepak needs to build up its low inventory levels in order to fulfil its term obligations to customers. Hence, there will not be any supplies offered to the spot market," said a trader.
Another source said the plant would operate at full capacity again after the shutdown.
The firm had maintained its offers at rupees (Rs) 59/kg ($1,230/tonne) ex-wharf since 1 September. Offers for imported material in Kandla were at Rs56/kg ex-tank.
($1 = Rs 47.94)
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