S Korea’s LG Chem to restart Yeosu IPA plants on 27 October

22 October 2010 03:53  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s LG Chem will restart its two Yeosu-based isopropanol (IPA) plants on 27 October, following nearly a full month of maintenance, a company official said on Friday.

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.

“Both the lines were taken off line in order to fix the main controller system at the complex,” the source said.

The company intends to start trial production at the plants this weekend and rev up production to full scale by the end of the month.

“We should be able to offer IPA in the market by beginning November,” the source said.

IPA prices have been escalating due to extremely tight supplies following turnarounds at major plants in the region, according to market sources.

Spot prices firmed around $20-40/tonne (€14-29/tonne) this week to $1,250-1,300/tonne CFR (cost and freight) NE (northeast) Asia and largely stable in southeast (SE) Asia at $1,180-1,200/tonne CFR.

Other IPA producers in Asia include LCY Chemical Corp, Isu Chemical, Nippon Oil, Tokuyama and Mitsui Chemicals.

 ($1 = €0.72)

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By: Saru Thukral
+44 208652 3214

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