Taiwan’s Nan Ya Plastics shuts Mailiao MEG plant for maintenance

06 April 2010 13:56  [Source: ICIS news]

SINGAPORE (ICIS news)--Taiwan’s Nan Ya Plastics has shut down its No 4, 700,000 tonne/year monoethylene glycol (MEG) plant at Mailiao for a month-long scheduled turnaround, a company source said on Tuesday.

“The turnaround will not affect our supplies, as we have prepared enough stocks to cover one month production loss of around 60,000 tonnes,” said the source.

The company had been purchasing cargoes from the spot market over the last two months to stock up enough volumes for its contract clients, the source said.

A major regional trader said: “Market sentiment played a more important role in directing price trend, rather than real supply-demand balance,”

MEG prices in Asia on Tuesday edged up by $5-10/tonne (€4-7/tonne) week on week to around $950/tonne CFR China Main Port (CMP), despite abundant supplies, according to global chemical market intelligence service ICIS pricing.

($1 = €0.74)

For more on MEG visit ICIS chemical intelligence
Read John Richardson and Malini Hariharan’s Asian Chemical Connections blog
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By: Becky Zhang
+65 6780 4359

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