23 November 2012 02:36 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan's China Petrochemical Development Corp (CPDC) will run its 240,000 tonne/year acrylonitrile (ACN) plant in Kaohsiung, Taiwan, at a reduced rate of 85-90% of capacity after restarting both of its production lines this week, a company source said on Friday.
CPDC will restart its second 120,000 tonne/year ACN line at the plant on 23 November, following the restart of its other 120,000 tonne/year line on 21 November,
Both lines were shut in early November for maintenance.
“We will run the ACN plant in Kaohsiung at a reduced rate of 85-90% until market conditions improve,” the source said.
CPDC is the latest ACN producer to join the string of producers in Asia in cutting back on production output to stem the slide in prices.
Several ACN producers in China, Japan and South Korea including, Asahi Kasei, Tongsuh Petrochemical, Taekwang Petrochemial and Jilin Petrochemical have been running their lines at reduced rates of 70-90% of capacity,
ACN spot prices in Asia have been falling because of weak demand and excess supply.
Spot prices were at $1,650-1,750/tonne (€1,287-1,365/tonne) CFR (cost and freight) northeast (NE) Asia in the week ended 16 November, down from $1,890-1,950/tonne CFR NE Asia on 14 September, ICIS data showed.
($1 = €0.78)
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