21 December 2012 03:18 [Source: ICIS news]
SINGAPORE (ICIS)--South Korea's Taekwang Petrochemical will shut its 290,000 tonne/year acrylonitrile (ACN) plant in Ulsan in February for three weeks for maintenance, a company source said on Friday.
“We will shut from 20 February for three weeks’ maintenance, and have no spot cargoes as we will be building up our inventories to prepare for the shutdown,” the source said.
Meanwhile, the company will continue to run its plant at a reduced rate of 80% of capacity until its turnaround in February because of negative margins, the source added.
The company has been running its ACN plant at a reduced rate of 80% since early November.
Asia ACN prices averaged $1,750/tonne (€1,330/tonne) CFR (cost and freight) northeast (NE) Asia in the week ended 14 December, according to ICIS.
ACN spot prices have been declining since September because of abundant supply and weak demand.
Spot prices have fallen by about 10% since 14 September when prices averaged $1,920/tonne CFR NE Asia, according to ICIS data.
($1 = €0.76)
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