S Korea’s Taekwang cuts run rate at Ulsan ACN plant to 80%
14 June 2012 03:34 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>South Korea’s Taekwang Petrochemical has cut operating rates at its 290,000 tonne/year acrylonitrile (ACN) plant to 80% this week, and plans to run the unit at this capacity up to end-June because of weak market conditions, an industry source said on Thursday.
“We cut the operating rate earlier this week by 20% because of low price and low demand,” the source said.
If market conditions fail to improve, the plant may continue running at the reduced capacity through July, the source added.
In the week ended 8 June, ACN prices were at $1,700-1,800/tonne (€1,360-1,440/tonne) CFR (cost and freight) northeast (NE) Asia, down by $300/tonne since 4 May 2012, ICIS data showed.
($1 = €0.80)By: Helen Yan+65 6780 4359
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.