By John Hodgkinson
Have the Asian producers finally woken up to the fact that they have been losing money hand over fist for quite some time now? Last month those semi-integrated producers in Northeast and Southeast Asia had wonderful contribution margins on exports to China of -$155-160/ton on phenol, +$35-50/ton on acetone and +$50-70/ton on BPA. If taken together, this meant that these producers would have been better off cutting back their operating rates and not exporting to China, as, of course, has been the case for some time now.
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