21 March 2011 11:19 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Plastics Corp (FPC) is preparing to restart operations at its 240,000 tonne/year low density polyethylene/ethylene vinyl acetate (LDPE/EVA) swing plant in Mailiao as scheduled, by Monday evening or on Tuesday, after a three-week turnaround, a company official said on Monday.
“We are carrying out safety inspections in order to restart the plant tonight or tomorrow and we expect to have products by tomorrow,” he added in Mandarin.
The official said that it could only announce fresh offers for April-loading EVA cargoes in early April after output has met specifications.
Meanwhile, selling notions of southeast Asia-origin EVA with 18% VA content for footwear/foaming applications were reiterated at fresh record highs of $2,850/tonne (€1,995/tonne) CFR (cost and freight) China Main Port (CMP)/SE (southeast) Asia, for April loading cargoes.
However, trade was hindered by a widening buy-sell gap as key China buyers were increasingly sidelined given price increases, driven by tight supply, which have occurred since the third quarter of 2010.
Major EVA producers in Asia include TPC, TPI Polene, USI Far East, BASF YPC, Lotte Daesan Petrochemical and Hanwha Chemical.
($1 = €0.70)
For more on LDPE and EVA visit ICIS chemical intelligence
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