21 November 2012 03:25 [Source: ICIS news]
SINGAPORE (ICIS)--Japan’s Mitsubishi Chemical plans to maintain an 85-90% operating rates at its three crackers into December, a company official said on Wednesday.
It plans to keep running its 500,000 tonne/year Mizushima cracker at 85% and its two crackers in Kashima – a 392,000 tonne/year No 1 unit and a 489,000 tonne/year No 2 unit – at above 90% of capacity, the official said.
“Based on November demand and the shutdown of Kashima No 2 cracker in October, we have no plans to reduce our cracker operating rates in December because we need to recover our volumes,” the official said.
Ethylene spot prices in northeast Asia fell $30-40/tonne (€23-31/tonne) to $1,250-1,280/tonne CFR NE Asia during the week ended 16 November amid ample supply and weak demand, according to ICIS.
($1 = €0.78)
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