PetroChina Dalian to resume p-wax production

15 November 2006 10:44  [Source: ICIS news]

SINGAPORE (ICIS news)--PetroChina Dalian, a subsidiary of energy major PetroChina, plans to resume paraffin wax production at its northeast China plant from 20 November after a routine shutdown for repairs, a source close to the company said on Wednesday.

PetroChina Dalian had shut the 150,000 tonnes/year plant for maintenance at the end of October, the source said.

Paraffin wax prices in domestic market in China were edging back up this week by $10/tonne to $830-860/tonne free on board (FOB) China, the slab price for the fully refined grade. Prices had eased from about $880/tonne levels in the last two weeks.

Demand in the domestic wax market had been falling as candles purchases are expected to ease after the year-end festivities. This is also in line with lower feedstock crude oil prices.

By: Staff Reporter
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