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)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections