27 May 2011 09:33 [Source: ICIS news]
SHANGHAI (ICIS)--China’s caustic soda export prices have risen in late May because of higher export demand caused by a force majeure at a major producer in Taiwan, industry sources said on Friday.
Taiwan’s Formosa Plastics Corp (FPC) declared the force majeure on 19 May, following the 12 May shutdown of its 1.33m dry metric tonne (dmt)/year plant in Mailiao.
FPC’s caustic soda output is expected to be decreased by 28,000dmt in the three weeks since the force majeure, industry sources said.
China’s caustic soda export prices rose by approximately 2.7% from $450-470/dmt (€315-329/dmt) FOB (free on board) CMP (China Main Port) on 19 May to $465-480/dmt FOB CMP on 25 May, according to data from Chemease, an ICIS service in China.
An offer of $500/dmt was heard in the domestic market, but it is hard to find buyers, industry sources said.
($1 = €0.70)
Additional reporting by Amanda Zhang
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