DATE : 2014-02-24
Taiwan’s Formosa Plastics Corp (FPC) plans to shut its 160,000 tonne/year acrylic acid (AA) unit and 200,000 tonne/year acrylate esters plant at Ningbo in eastern China for scheduled maintenance in the first week of March, a company source said on Monday.
The company plans to restart the units after 15 March, the source said.
AA and acrylate esters prices have been on a downward trend recently as there is weak demand and most producers faced high inventory pressure, market sources said.
The shutdown could ease the inventory pressure and reduce industry risks as a result, a company source said.
SOURCE Icis News