South Korea's ISU Chem shuts IPA line on weak demand

08 June 2012 03:24  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s ISU Chemical has shut its 30,000 tonne/year isopropanol (IPA) line in Ulsan because of weak regional demand, a market source said on Friday.

The unit was shut at the end of May and is likely to remain off line until at least the end of June, the source said.

The producer continues to operate its second 30,000 tonne/year line, the source said.

Market participants said buying sentiment has weakened following recent falls in feedstock acetone and propylene prices as well as bearish crude futures.

Demand in southeast Asia, which has helped to pick up the slack in Chinese demand, has slowed down as well, they added.

“Distributors have adequate stocks and everyone is waiting for feedstock prices to stabilise before buying new cargoes,’’ a trader said.

By: Yeow Pei Lin

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