24 August 2011 04:38 [Source: ICIS news]
SINGAPORE (ICIS)--The Polyolefin Co (TPC) plans to restart operations at its low density polyethylene/ethylene vinyl acetate copolymer (LDPE/EVA) swing plant by 28 August following a turnaround that started at the end of July, a company official said on Wednesday.
The 70,000 tonne/year plant is located on Singapore’s Jurong Island.
“We are planning to restart the plant by the end of this week,” he said.
Meanwhile, the supplier eyed offers for the key 18% VA (vinyl acetate) content EVA for September loading at $2,550/tonne (€1,759.50/tonne) CFR (cost & freight) CMP (China Main Port)/SE (southeast) Asia.
This represents a $150/tonne decrease from previous offers quoted in late June before it shut down the plant.
Discussions are expected to start in the coming weeks amid subdued market conditions that include the recent turmoil in global equities markets, eurozone sovereign debt crisis and volatility in the crude futures pricing.
“Demand from the foaming and hot melt adhesive application sectors is slow at the moment because there are a lot of uncertainties,” the official said.
Major EVA producers in Asia include Taiwan’s Formosa Plastics Corp and USI Far East, South Korea’s Hanwha Chemical, Honam Petrochemical and Samsung Total, Japan’s Mitsui Dupont Polychemicals, China’s YPC-BASF, Beijing Organics and DuPont Packaging & Industrial Polymers, and Thailand’s TPI Polene.
($1 = €0.69)
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