04 March 2011 02:44 [Source: ICIS news]
SINGAPORE (ICIS)--Japanese producer Sumitomo Chemical is expected to restart its 90,000 tonne/year No 3 methyl methacrylate (MMA) line on Singapore’s Jurong island on 1 April following a regular turnaround, a source close to the company said on Friday.
Meanwhile, Sumitomo’s two other MMA lines at the same site, with a combined capacity of 133,000 tonnes/year, were operating at full rates, the source added.
Separately, the company did not buy any spot cargoes of methyl tertiary butyl ether (MTBE) because of high feedstock prices.
“They are relying on term (MTBE) supply instead,” said one market player.
Asian MTBE prices soared to $1,050-1,100/tonne (€756-792/tonne) FOB (free on board) Singapore on Thursday, triggered by a rally in global crude futures amid chaos in OPEC producer Libya, ICIS data showed.
($1 = €0.72)
Additional reporting by Felicia Loo
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