29 May 2012 07:17 [Source: ICIS news]
The producer shut the plant in early May because of high inventory levels, which was a result of slow demand in the hydrous ethanol market.
“Our stock levels were growing as the ethanol market started to weaken in the last 2-3 months,” the source said, without elaborating further.
The company was running the plant at around 80% capacity following a turnaround in April.
“We are not sure if we will raise the operating rate to 100% capacity as this will depend on the market situation in the near future. Currently, buyers are covered with material until August, so we can only make offers in mid-June,” the source added.
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