12 June 2012 04:21 [Source: ICIS news]
The plant was taken off line on 26 May.
The unit is currently producing EVA at around 50% of capacity, with production expected to be ramped up over the next few days, the official said.
But the EVA/LDPE plant may be taken off line again in August or September for two-to-three weeks because of lingering issues at its reactor and amid poor EVA market conditions, the TPI Polene official said.
“The EVA market is so bad and we don’t want to ruin the market by dumping cargoes,” he said.
On Monday, spot offers for EVA with 18% VA (vinyl acetate) content in Asia are at $1,650-1,700/tonne (€1,320-1,360/tonne) CFR (cost and freight) China Main Port (CMP) – levels last seen in December 2009 and down by $50/tonne from last week’s levels.
Prices are falling because of ample inventories and poor demand from downstream footwear/sandals sectors in
Major EVA producers in Asia include Taiwan’s Formosa plastics Corp (FPC) and USI; South Korea’s Hanwha Chemical, Honam Petrochemical and Samsung Total Petrochemicals; Japan’s Sumitomo Chemical, Tosoh Corporation and DuPont-Mitsui Polychemicals; China’s BASF-YPC, Beijing Organic; DuPont Packaging & Industrial Polymers, and; The Polyolefin Co of Singapore (TPC).
($1 = €0.80)
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