17 January 2013 04:08 [Source: ICIS news]
SINGAPORE (ICIS)--South Korea’s Samsung BP Chemicals plans to shut its 600,000 tonne/year acetic acid plant in Ulsan in March for maintenance, a company official said on Thursday.
“The plant will be shut for 25 days in the second half of March,” he said, adding that the unit is currently running at around 90% capacity.
Meanwhile, trade in the spot market remains subdued, because of a wide buy-sell spread.
“We don’t have volumes [sold] to northeast Asia and southeast Asia in January, because we can’t get marketable prices, given our production costs, and bids are too low,” the company official said.
The source added that it is uncertain if the March turnaround at Samsung BP’s acetic acid plant will affect the market as supply remains ample.
Selling targets for acetic acid in northeast Asia were heard at $470-480/tonne (€352-360/tonne) CFR (cost and freight) northeast (NE) Asia versus bids at $430-440/tonne CFR NE Asia.
($1 = €0.75)
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