04 February 2010 10:26 [Source: ICIS news]
LONDON (ICIS news)--INEOS restarted its 245,000 tonne/year ethyl acetate unit at Hull in the UK over the weekend of 30-31 January, a company source said on Wednesday.
“The restart has been quite successful and by Monday [1 February] we had on-spec material,” the source said.
“By the end of February we should be back to normal [with supplies],” he added.
INEOS’s unit went into a scheduled outage at the end of November and it delayed the restart from mid-December to January. On 18 January the company declared force majeure and contractual customers have been supplied at 30-40% since.
Prices responded to the tight market by soaring approximately 20% since the declaration. A wide range of prices were heard, but most assessments appeared to be holding at €950-980/tonne ($1,319-1,361/tonne) FD (free delivered) NWE (northwest ?xml:namespace>
($1 = €0.72)
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