India’s GNFC to shut acetic acid plant on 21 May for turnaround

08 May 2012 04:04  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Gujarat Narmada Valley Fertilizers Company Ltd (GNFC) plans to shut its 170,000 tonne/year acetic acid plant at Bharuch in Gujarat on 21 May for scheduled maintenance, a company official said on Tuesday.

“We will shut [the plant] on 21 May for 10 days of maintenance,” he said. The plant is currently operating at full capacity.

Meanwhile, acetic acid spot price discussions in India were hovering at fresh six-month highs of around $555-575/tonne (€427-443/tonne) CFR (cost and freight) India for June loading cargoes amid supply shortages.

Prices across Asia had gained 12% to 20.65% since mid March to six-month highs in the mid $500s/tonne CFR, owing to supply shortages.

Major acetic acid producers in Asia include US-based Celanese, UK’s BP, China’s Jiangsu Sopo, Shanghai Wujing, Yankuang Cathay Coal Chemicals, Henan ShunDa Chemical and Hebei Yingdu Gasification Co. Ltd, Taiwan’s Chang Chun Petrochemicals, Saudi Arabia’s International Acetyl Company (IAC) and Iran's Fanavaran Petrochemical Co.

($1 = €0.77)

By: Helen Lee
+65 6780 4359

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