05 August 2010 17:04 [Source: ICIS news]
LONDON (ICIS)--The Egyptian Petrochemical Co has restarted its 120,000 tonne/year caustic soda plant in ?xml:namespace>
The restart took place on 3 August and production rates were now back to normal, the source said, adding that the plant had gone into turnaround on 13 July.
Despite oversupply in n
“We’ve got 8,000 tonnes of demand in
Egyptian FOB (free on board) prices for 50% liquid spot were stable at $200-250/tonne (€152-190/tonne), following falls of $10-40/tonne last week, buyers and sellers said.
The north African market was long due to excess material arriving from the
Excess material in other global regions was being shipped to northern
“PVC [the major end-use for chlorine] demand is doing well. Chlorine demand is doing well. So there’s excessive supply in the market,” said an Asian exporter to
Nevertheless, oversupply was already priced into the market, players said.
“Supply is long on material from other regions [imported into
Most sources expected caustic soda values to remain stable throughout August. Although one local producer said that the beginning of Ramadan on 11 August would lower exports from Asia and the
The producer added that this could lead to higher prices, although it remained too early to predict the extent of any increase.
($1 = €0.76)
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