22 January 2010 03:43 [Source: ICIS news]
SINGAPORE (ICIS news)--Taiwan’s Lee Chang Yung Chemical (LCY) raised operating rates at its Kaoshiung-based 100,000 tonne/year isopropanol (IPA) plant to 80-90% earlier this month, a company source said on Friday.
The company was running at reduced operating rates of 50% in the last quarter of 2009 due to a shortage of feedstock propylene. The turnaround of the country’s state-owned firm CPC’s 385,000 tonne/year No 3 naphtha cracker at Linyuan from late October to the middle of December limited propylene supplies.
Operating rates of LCY’s IPA unit has increased after the turnaround of the upstream unit, but the LCY was still unable to run full rate as CPC has not restored fully the propylene supply in January.
“Currently, we are able to supply to our customers’ needs,” the LCY source said.
“We will start to offer next week for February arrivals and selling ideas/offers will depend on the raw material cost and size of cargoes,” he added.
IPA spot prices were assessed on Friday at $1,200-1,250/tonne (€852-888/tonne) CFR (cost and freight) NE (northeast) Asia, underpinned by bulk transactions for January shipments and buy sell indications/ideas for February parcels, market players said.
($1 = €0.71)
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