31 May 2012 11:32 [Source: ICIS news]
“There is sufficient ethylene stock for the time being so any cuts may take place next week,” he said, adding that the company is still determining the duration of the output cut.
The company’s VAM plants derive their ethylene feedstock from Formosa Petrochemical whose 1.2m tonne/year No 3 cracker in Mailiao was taken off line on Thursday.
"We will have to see the impact of the cuts in two to three weeks' time because nobody has any mood to buy spot cargoes unless in emergency cases," a key southeast Asia-based buyer said.
VAM spot prices in northeast, southeast and south
Other major VAM producers in the Asian market include US-based Celanese, China’s Sichuan Vinylon Works, Japan’s Showa Denko and Japan VAM & Poval, South Korea’s Asia Acetyls Co (Asacco) and Saudi Arabia’s International Vinyl Acetate Co (IVC).
($1 = €0.81)
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