11 November 2011 03:29 [Source: ICIS news]
The plant, which can produce up to 460,000 tonnes/year of acetic acid, is currently operating at 80-85% of capacity, up from 50-60% levels in late October, the source said.
Commercial production at the plant started in late August.
“We will reduce operating rates next month because of weak demand and long supply conditions in the market,” he said, but did not provide details.
Chang Chun has a 3,000-tonne acetic acid spot cargo available for sale in November and a 3,000-5,000-tonne lot available for December, the company source said.
The company hopes to sell the cargoes at above $470/tonne (€348/tonne) FOB (free on board)
“The main problem is the state of the European economy and
Another northeast Asia-based producer said: “We are not sure how long the slump will last.”
Major acetic acid producers in Asia include US-based
($1 = €0.74)
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