Taiwan's LCY Chemical cuts MIBK output on weak markets

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)

By: Trisha Huang

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly