Celanese may shut Singapore acetic acid plant next week: sources

15 November 2013 06:05 Source:ICIS News

SINGAPORE (ICIS)--Global acetyls producer Celanese may shut its 600,000 tonne/year acetic acid plant at Jurong Island in Singapore next week following a surge in cost of feedstock methanol, sources close to the company said on Friday.

“The plant may be taken off line next week as feedstock costs are too high,” one of the sources said.

Spot methanol prices in southeast Asia surged $60-70/tonne (€44-52/tonne) to $540-550/tonne CFR (cost asnd frieght) SE (southeast) Asia during the week ended 8 November on tight supply amid plant outages, according to ICIS data.

The duration of Celanese’s Singapore plant shutdown has not been ascertained and will depend on methanol’s price movement, the sources said.

The plant is currently running at around 70-80% of capacity, the sources close to the company said.

($1 = €0.74)

By Helen Lee