27 February 2013 02:09 [Source: ICIS news]
SINGAPORE (ICIS)--Japan’s JSR Corp will stop production at its 36,000 tonne/year ethylene propylene diene monomer (EPDM) plant in Kashima in the second half of March to clear stocks ahead of its new fiscal year, a company source said on Wednesday.
“We will stop production for two weeks in second-half March to clear our stocks before the new fiscal year starts in April,” the source said.
The Japanese chemical producer will then shut the EPDM plant in late May until the end of June for its annual maintenance, as originally planned, the source said.
In the week ended 20 February, medium ethylidene norbornene (ENB) grade EPDM prices averaged at $3,100/tonne (€2,387/tonne) CFR (cost & freight) southeast (SE) Asia, compared with $3,300/tonne CFR SE Asia in early January, ICIS data showed.
EPDM prices have been falling, because of oversupply and weak demand, industry sources said.
($1 = €0.77)
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