16 July 2013 04:05 [Source: ICIS news]
MELBOURNE (ICIS)--China’s Zhenjiang LCY General Chemical has further postponed the restart of its 24,000 tonne/year methyl isobutyl ketone (MIBK) plant in Jiangsu province, sources close to the company said on Tuesday.
Weak market conditions have prompted the producer to delay resuming operations at the plant from early July, the sources said.
It remains unclear when Zhenjiang LCY will restart the MIBK unit, they said.
Zhenjiang LCY began scheduled maintenance at its MIBK plant in early June instead of late July, because Chinese MIBK producers’ margins remained squeezed by the high volume of spot imports and reduced demand for locally-produced MIBK.
China imported 23,785 tonnes of MIBK between January and May 2013, a surge of 96.9% from the same period a year ago, market sources in China said, citing the country’s customs data.
Zhenjiang LCY is a subsidiary of Taiwanese company LCY Chemical, which also operates a 20,000 tonne/year MIBK plant at Linyuan in Taiwan.
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