Jiutian Chemical gains from tumble in raw material price
Competitor's exit propels it to become the world's number two producer of dimethylformamide.
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Tay Peck Gek
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Singapore
CATALIST-LISTED Jiutian Chemical Group recently became the world's second-largest dimethylformamide (DMF) producer, after a competitor exited the business. The economics of its chemicals production business have also improved, and the company expects this situation may continue for some time.
Executive director Lee Chee Seng told The Business Times that the cost of a key raw material has plunged drastically while the average selling price of its mainstay product DMF has risen significantly.
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