India’s GNFC to shut acetic acid plant mid-April for turnaround

21 March 2011 09:14  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Gujarat Narmada Valley Fertilizers Co (GNFC) plans to shut its 150,000 tonne/year acetic acid plant at Bharuch in Gujarat state in the middle of April for a turnaround lasting 10 days to two weeks, a company official said on Monday.

The turnaround is in line with the maintenance schedule of its upstream fertilizers plant, the official added.

Meanwhile, the local market remained supported by steady demand and limited supply following recent planned and unplanned outages at southeast Asia- and China-based acetic acid plants.

Indian domestic acetic acid prices hit Rupees (Rs)33-33.50/kg ($0.73-0.74/kg) (Rs33,000-33,500/tonne) ex-tank during the week ended Friday, following a Rs2/kg price hike, according to ICIS.

Buying ideas for April-delivery imports were mentioned higher at $570-590/tonne (€399-413/tonne) CFR (cost and freight) India, reflecting a hefty $60-80/tonne increase over early March levels.

Major acetic acid producers in Asia include Celanese, BP, Shanghai Wujing, Yankuang Cathay Coal Chemicals, Henan ShunDa Chemical, Hebei Chung Shun Chemical, CPDC, Sipchem and Fanavaran Petrochemical Co.

($1 = €0.70)

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By: Helen Lee
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