16 October 2013 06:11 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Plastics Corp (FPC) has switched to producing ethylene vinyl acetate (EVA) at its 72,000 tonne/year swing plant in Mailiao from the start of October, a company official said late on Tuesday.
The plant was previously producing low density polyethylene (LDPE) in full swing given a limited supply of the polymer, and amid high EVA production cost at the time.
FPC’s other 168,000 tonne/year tubular EVA plant at the same site has been operating normally, the source said.
Spot prices of general purpose grade EVA with 18% VA (vinyl acetate) content were assessed at $1,700-1,750/tonne CFR CMP (China Main Port)/SE (southeast) Asia on 15 October, according to ICIS.
Prices have gone up $45/tonne (€33/tonne) over the past month on the back of declining stocks and unabated spike in the prices of feedstock ethylene.
($1 = €0.74)
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