11 July 2012 08:46 [Source: ICIS news]
MELBOURNE (ICIS news)--Taiwan’s LCY Chemical has in early July restarted its 50,000 tonne/year ethylene-based ethyl acetate (etac) plant at Linyuan to meet demand from its domestic Taiwanese customers, market sources said on Wednesday.
The company has kept its overall etac operating rate at a low level so far in 2012 because comparatively high ethylene feedstock costs have reduced its competitiveness against etac produced by the esterification of ethanol with acetic acid, the sources added.
Further details on the plant's operating rate and restart date were not immediately available.
Domestic etac prices in Taiwan declined to New Taiwan dollars (NT$) 29.50-30.00/kg ($0.98-1.00/tonne) EXW (ex-works) this month, from NT$30.00/kg EXW in June, weighed down by imports of competitively priced etac from China, according to the sources.
($1 = NT$29.95)
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