18 March 2011 04:37 [Source: ICIS news]
SHANGHAI (ICIS)--Asian polycarbonate (PC) prices rose $20-50/tonne (€14-36/tonne) amid expectations of tighter supply and higher feedstock bisphenol A (BPA) costs following the 11 March Japan earthquake, market sources said on Friday.
Japan’s Mitsubishi Engineering Plastics shut its 110,000 tonne/year PC facility in Kashima, but is keeping its 60,000 tonne/year unit in Kurosaki running after the earthquake, sources said.
Idemitsu Kosan’s 47,000 tonne/year PC plant and its upstream - Idemitsu Petrochemical’s 75,000 tonne/year BPA plant in Chiba - were taken off line in the aftermath of the quake.
Meanwhile, Teijin Polycarbonate is running its 130,000 tonne/year unit in Matsuyama at full rates, sources said.
Power restrictions in Japan after the quake were expected to curtail local production and supply, but the impact on PC prices was still undetermined because of recent fluctuations in crude futures and an anticipated slump in domestic demand in Japan, sources said.
Producers were almost sold out for March and were mulling price hikes for April shipments. Deals and discussions were heard at $3,000-3,100/tonne CIF (cost, insurance & freight) Hong Kong for optical grade and at $3,200-3,250/tonne CIF Hong Kong for GP moulding grade, according to ICIS data.
($1 = €0.71)
Click here for the latest news on the Japan disaster
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections