Japan’s Mitsui Chemicals eyes Osaka IPA shutdown in April

15 March 2010 08:05  [Source: ICIS news]

SINGAPORE (ICIS news)--Japan’s Mitsui Chemicals will shut its 33,000 tonne/year isopropanol (IPA) plant at Osaka on 6 April for two weeks of maintenance, a company official said on Monday.

"Previously, we experienced some technical problems in the upstream cracker, but now we have resumed full operations at our IPA unit," the source said.

"We will have one cargo to export to China for April arrival and negotiations will begin in the following weeks," the source said.

The cargo would be offered at $1,300/tonne (€949/tonne) CFR China, since deals at $1,270/tonne CFR China were reported for March shipments, the source added.

Although demand from the downstream inks-and-coatings sector remained weak, the company was forced to defend its offer as upstream naphtha cost in Japan was high, the source said.

Other IPA producers in Asia include Lee Chang Yung Chemical (LCY), LG Chem, Isu Chemical, Nippon Oil and Tokuyama.

($1 = €0.73)

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By: Ong Sheau Ling
+65 6780 4359

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