02 July 2013 08:07 [Source: ICIS news]
MELBOURNE (ICIS)--China’s Zhenjiang LCY General Chemical has postponed the restart of its 24,000 tonne/year methyl isobutyl ketone (MIBK) plant in Jiangsu province to early July from late June, sources close to the company said on Tuesday.
The producer is expected to restart the unit after completing a turnaround later this week or in the following week, the market sources said.
The producer began scheduled maintenance for its MIBK plant in early June instead of late July, because MIBK producers’ margins remained squeezed by the high volume of spot imports, market sources said on 25 June.
China imported 23,785 tonnes of MIBK between January and May 2013, a surge of 96.91% from the same period a year ago, market sources in China said, citing the country’s customs data.
Imports from South Korea accounted for 63% of the 3,170 tonnes bought for delivery in May, with the balance largely made up of MIBK supplied from South Africa and Japan, sources said.
Zhenjiang LCY is a subsidiary of Taiwanese company LCY Chemical, which also operates a 20,000 tonne/year MIBK plant in Linyuan in Taiwan.
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