Taiwan’s Nan Ya Plastics restarts MEG No 4 plant

12 March 2014 03:30 Source:ICIS News

HANGZHOU (ICIS)--Taiwan’s Nan Ya Plastics restarted its 720,000 tonne/year monoethylene glycol (MEG) No 4 plant on 11 March, a company source said on Wednesday.

The plant was taken off line on 28 February after unexpectedly high temperatures in the reactor of the plant were detected.

The source said that the operating rate of the plant is kept low at present in order to monitor the reactor closely over the next few days.

The reduced sales allocation to Nan Ya Plastics’ customers as a result of the plant’s shutdown had minimal impact on the supply in the market, market sources said.

The recent volatility of MEG prices were largely driven by the sentiments of traders affected by recent news of reforms in the Chinese banking sector and volatility in the financial markets.

By Jeffrey Ong