14 March 2013 02:59 [Source: ICIS news]
SINGAPORE (ICIS)--Japan’s JSR Corp will halt operations at its 36,000 tonne/year ethylene-propylene-diene monomer (EPDM) plant in Kashima from 10-21 March to clear its stocks ahead of its new fiscal year, a company source said.
“We have stopped production to clear our stocks before the new fiscal year starts in April,” the source said.
The Japanese chemical producer will shut the EPDM plant again in late May until the end of June for its annual maintenance as originally planned, the source added.
Prices of medium ethylidene norbornene (ENB) grade EPDM averaged at $3,050/tonne (€2,348/tonne) CIF (cost, freight and insurance) China on 13 March, compared with $3,300/tonne CIF China in early February, ICIS data showed.
EPDM prices have been falling, because of oversupply in the market and weak demand, industry sources said.
($1 = €0.77)
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