23 July 2013 05:28 [Source: ICIS news]
SINGAPORE (ICIS)--Thailand’s TPI Polene is planning to resume ethylene vinyl acetate (EVA) production at its 158,000 tonne/year EVA/low density polyethylene (LDPE) swing plant at Map Ta Phut by late July, a company official said on Tuesday.
The company has been producing LDPE in full swing since end-May following the onset of poor demand season for EVA from downstream footwear sector, the official said.
The plant can produce 75,000-78,000 tonnes of EVA at one of its two tubular reactors, according to the official.
“We plan to resume EVA production at one line by the end of this week, of the grade for hotmelt adhesives application,” he said, adding that demand is likely to improve after mid-August as the monsoon season in several parts of Asia is expected to ease by then.
Spot prices of 22-30% VA content EVA fell by around 13% from early March levels to the current $1,600-1,640/tonne (€1,216-1,246/tonne) CFR (cost and freight) NE (northeast) Asia, as supply outstrips demand, according to ICIS data.
Major EVA producers in Asia include Taiwan’s Formosa Plastics Corp’s (FPC) , USI; South Korea’s Hanwha Chemical, Lotte Chemical and Samsung Total Petrochemicals; Japan’s Sumitomo Chemical, Tosoh Corporation and DuPont-Mitsui Polychemicals; China’s BASF-YPC, Beijing Organic; DuPont Packaging & Industrial Polymers and The Polyolefin Co of Singapore (TPC).
($1 = €0.76)
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