INEOS's ethanol UK plant back on line, but force majeure remains

11 August 2011 15:40  [Source: ICIS news]

LONDON (ICIS)--INEOS’s ethanol facility at Grangemouth in the UK is back on line, following an unplanned shutdown, but the force majeure remains in place, said a company source on Thursday.

New allocations have been provided to customers, the company source added.

However, the company declined to provide further details about operating rates or the duration of the force majeure.

Nameplate ethanol capacity at the site is 340,000 tonnes/year, according to the ICIS plants and projects database.

Industrial 99% ethanol spot prices have been pushed up over the past few weeks in the UK and northwest Europe, because of INEOS’s force majeure in an already tight European ethanol market.

In the UK, industrial 99% ethanol spot prices are pegged at £930–950/tonne ($1,507–1,539,  €1,057–1,080/tonne) FD (free delivered) as a minimum, with numbers reported up to £990/tonne FD and slightly above.

In northwest Europe, industrial 99% spot material is talked up to €85–90/hl FD NWE (northwest Europe).

However, market feedback so far has shown that industrial 99% spot prices have stabilised this week, following recent price increases and news of INEOS’s resumed output.

($1 = €0.70, €1 = £0.88, £1 = $1.62)

For more on INEOS visit ICIS company intelligence

By: Heidi Finch
+44 20 8652 3214

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