S Korea's LG Chem sets Oct turnaround at Yeosu-based IPA plants

14 September 2010 11:38  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s LG Chem is planning to shut its two Yeosu-based isopropanol (IPA) plants in October for a month-long turnaround, a source close to the company said on Tuesday.

LG Chem, the largest IPA producer in South Korea, operates a 45,000 propylene-based IPA unit and a 55,000 tonne/year acetone-based IPA facility in Yeosu.

The two IPA units are currently operating at full capacity, the source said.

IPA prices have been on an uptrend due to limited supplies and lower operating rates at other plants in the region, according to sources.

Regional supply of the material was likely to worsen due to LG's upcoming turnaround at its plants in Yeosu, they said.

Spot prices were assessed $50-75/tonne (€39-59/tonne) firmer for the week ended 10 September at $1,175-1,200/tonne CFR (cost and freight) NE (northeast) Asia and up $20-50/tonne to $1,100-1,150/tonne CFR SE (southeast) Asia.

Other IPA producers in Asia include Lee Chang Yung Chemical (LCY), Isu Chemical, JX Nippon Oil & Energy Corp, Tokuyama and Mitsui Chemicals.

($1 = €0.78)

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By: Saru Thukral
+44 208652 3214

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