25 June 2013 08:20 [Source: ICIS news]
MELBOURNE (ICIS)--Taiwan’s LCY Chemical has reduced the operating rate at its 20,000 tonne/year methyl isobutyl ketone (MIBK) plant in Linyuan in response to weak market conditions, a source close to the company said on Tuesday.
The producer cut its MIBK output to about 70% capacity in mid-June from more than 80% capacity previously, the source said.
Spot MIBK prices into China, the regional benchmark, have slumped by almost 15% since early December 2012 to settle at an average of $1,735/tonne (€1,319/tonne) CFR (cost & freight) China around mid-June 2013, according to data compiled by ICIS.
($1 = €0.76)
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