SINGAPORE (ICIS)--Taiwan’s Formosa Plastics Corp (FPC) has cut the operating rate at its 250,000 tonne/year n-butanol (NBA) plant at Mailiao to 85-90% capacity, a source close to the company said on Thursday.
The plant was previously running at 100% capacity, the source said.
The cut in operating rates is because of the poor demand from the China import market, the source added.
However, if demand improves in the near-term, the company will likely raise the operating rate of the plant back to full capacity, the source said.
According to several market players, the shutdown is likely to have minimal impact on spot NBA prices because of weak buying interest in the market and ample supply of material in the domestic China market.