Taiwan's Nan Ya Plastics resumes MEG production after earthquake
08 March 2010 16:45 [Source: ICIS news]
SINGAPORE (ICIS news)--Taiwan’s Nan Ya Plastics has ramped up operating rates at its two monoethylene glycol (MEG) plants at Mailiao to over 90% after a two-day shutdown due to an earthquake, a company source said on Monday.
The No 1 and No 3 lines, totaling 700,000 tonnes/year capacity, were shut down on 4 March after a 6.4-magnitude earthquake in Kaohsiung for damage evaluation.
“We restarted the two lines on Saturday after minor maintenance. They are expected to reach full rates quickly,” the source said.
“It wouldn’t have much impact on MEG supplies,” a major MEG trader said, adding that Nan Ya had started its 400,000 tonne/year No 2 plant in late February.
Asia MEG prices fell to around $935-940/tonne CFR China Main Port (CMP) on Monday, down by $50/tonne from the previous week due to abundant supplies, according to global chemical market intelligence service ICIS pricing.
“Considering the market situation, we are planning to bring forward the one-month turnaround of No 4, 700,000 tonne/year MEG plant at the same site (Mailiao) from 1 April to 25 March,” the source from Nan Ya said.
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