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,”
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($1 = €0.74)
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