05 January 2011 10:58 [Source: ICIS news]
LONDON (ICIS)--INEOS restarted its 100,000 tonne/year butyl acetate unit in Antwerp, Belgium, early this week, a company source said on Wednesday.
The outage was planned to carry out routine maintenance and started over 14-15 December.
“We started in the last day or two,” the source said. This was a slight delay from previous plans for a year-end restart “due to the holidays”.
However, the player remained on force majeure (FM) and this was “linked to the supply of propylene and butanol from Lavera”.
The FM has been in place since 14 October following supply restrictions from Lavera, France, after strike action in the region.
While contractual obligations were being fulfilled, the source said there were no opportunities to get involved with the spot market.
Offers of material for monthly business in January were now at €1,200/tonne ($1,600/tonne) free carrier (FCA) Antwerp from this supplier.
Other suppliers had previously quoted January targets of around €1,200/tonne free delivered (FD) northwest Europe (NWE), but it remained to be seen if all customers would accept such a price increase.
The last price assessments, according to ICIS on 24 December, were at €1,100-1,130/tonne FD NWE. However, upstream propylene settled for January at €1,070/tonne FD NWE, up €110/tonne, and a significant increase on butyl acetate was also expected for January.
($1 = €0.75)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections