Mexico's Pemex will shut down ACN unit from 10-25 January

16 December 2010 22:56  [Source: ICIS news]

HOUSTON (ICIS)--Petroleos Mexicanos (Pemex) will shut down its Coatzacoalcos acrylonitrile (ACN) unit in Mexico for maintenance from 10-25 January, sources said on Thursday.

Calls to Pemex seeking comment were unsuccessful.

An estimated 2,700 tonnes of material will be off the market, which has seen spot prices jump by $250-300/tonne (€190-228/tonne) since 24 September to $2,100-2,250/tonne FOB (free on board) USG (US Gulf) as of 16 December, as assessed by ICIS.

Much of the jump was caused by 12% of the global capacity being placed in turnaround in October and November. With the Pemex facility in turnaround, USG ACN prices should continue their rise.

A producer said last week that it would hold off on selling some of its January material in an effort to get a better price.

($1 = €0.76)

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By: John Dietrich
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