22 October 2013 04:45 [Source: ICIS news]
SINGAPORE (ICIS)--South Korea’s Hanwha Chemical plans to restart three of its Ulsan-based ethylene vinyl acetate (EVA)/low density polyethylene (LDPE) swing plants on 28 October following the completion of scheduled maintenance, a company official said on Tuesday.
The plants were taken off line on 15 October, he added.
Each of the three plants has a production capacity of 40,000 tonnes/year and they were producing EVA full swing at 90-95% capacity prior to the shutdown, according to the official.
The Ulsan plants manufacture EVA with 15% to 40% VA (vinyl acetate) content and the plants were last shut for the twice yearly turnaround in the first quarter of 2013.
Spot prices of general purpose grade EVA with 18% VA (vinyl acetate) content were hovering at $1,700-1,750/tonne (€1,241-1,278/tonne) CFR (cost & freight) CMP (China Main Port)/SE (southeast) Asia during the week to Tuesday, according to ICIS.
Prices have gone up by $45/tonne over the past month on the back of declining stocks and unabated spike in the prices of feedstock ethylene.
EVA resin can be used to produce injection products, agricultural films, foam products, hot-melt adhesives, electric wires and cables. It is also used in the manufacturing of solar panels, construction materials, inks and coatings.
Major EVA producers in Asia include Taiwan’s Formosa Plastics Corp (FPC) and USI Far East; South Korea’s Lotte Chemical Corp and Samsung Total; Japan’s Sumitomo Chemical, DuPont-Mitsui Polychemicals and Tosoh Corp; China’s YPC-BASF (BYC), Beijing Organic and DuPont Packaging & Industrial.
($1 = 0. €73)
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