16 December 2005 04:14 [Source: ICIS news]
SINGAPORE (ICIS news)--The Jihua Group has cut operating rates at its acrylonitrile (ACN) unit to 90% of capacity, down from 100%, due to a lack of propylene feedstock, a source from the Chinese company said on Friday.
However, other sources close to the company said that poor demand from the downstream acrylic fibre (AF) market was also a reason for lower operating rates at the 250,000 tonne/year plant at Jilin, Jilin Province, China.
The company has also reduced its domestic prices by Rmb300/tonne from November prices to Rmb12,500/tonne ex-works. Traders said that this, and the lower operating rates, could also be an attempt to reduce inventory levels before the end of 2005.
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