15 June 2010 09:24 [Source: ICIS news]
SINGAPORE (ICIS news)--Asia’s largest adipic acid producer, Asahi Kasei, restarted its 120,000 tonne/year plant in Nobeoka, Miyazaki prefecture, last week following a one-month turnaround and is now ramping up operating rates, a company official said on Tuesday.
The ongoing and impending plant turnarounds in Japan and China were expected to be complete by the end of June, but supply was still tight, he added.
Buyers in China and Taiwan, on the other hand, were minimising purchases as the downstream polyurethane/shoe sole sectors were entering their low manufacturing season.
Adipic acid spot prices slipped by $50/tonne (€41) from record highs to $2,600–2,700/tonne CFR (cost and freight) northeast Asia two weeks ago and have remained at this level since then, according to global chemical market intelligence service ICIS pricing.
Adipic acid is primarily used in the production of nylon 6,6, as well as in the manufacturing of polyurethanes, which are used in shoe soles and polyester resins. Nylon 6,6 is used for the manufacture of tyre cord.
($1 = €0.82)
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