09 January 2012 02:50 [Source: ICIS news]
By Heng Hui
Operating rates may be lowered because of poor demand in 2012 that is linked to expectations that world GDP will fall, according to market participants.
Asia has a current
In December last year,
Meanwhile, Shandong Haili Chemical Industry has delayed the start-up dates for its two new 150,000 tonne/year
The first plant, which was scheduled to be started up in December 2011, will start operations in May 2012, according to a company source. The start-up of the second plant has been delayed, the source said, without giving further details.
Separately, Shandong Hongye Chemical Industrial Group will start up its 140,000 tonne/year
Other applications of
Producers in the region said conversion costs from feedstock benzene were at around $1,000/tonne.
Sellers said that strong Asian currencies, such as the South Korean won, the Japanese yen and the
However, buyers and sellers said
In the fourth quarter of 2011, prices were at around $1,500/tonne (€1,185/tonne) CFR (cost & freight)
However, buyers did not express interest in capitalising on the low prices.
“We bought a little, when prices were low in November-December. However, we are not keen to stock up because of the uncertain economic forecast,” said a buyer in
($1 = €0.79)
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