Korea Polyol to turn around Nanjing plant in China

30 January 2008 10:23  [Source: ICIS news]

SINGAPORE (ICIS news)--Korea Polyol plans to shut its 30,000 tonne/year polyols plant in Nanjing, China on 5 February for a turnaround, a source close to the company said on Wednesday.

The shutdown is to coincide with the week-long Chinese New Year holiday beginning from 4 February and it should last for around one week, the source said.

“The plant has not been able to deliver material due to congestions in the local transportation system caused by heavy snow and mass movement of people heading home for the holidays,” he said.

“But it has continued production as it needs to build up stocks before the shutdown,” he added.

Trading almost came to a standstill in the China domestic market due to the logistics problems, local distributors said.

Prices in the China domestic market were stable at yuan (CNY) 14,100-14,600/tonne ($1,958-2,028/tonne) DEL (delivered) amid weak buying interest, they said.

Other major polyols producers in China include Shanghai Gaoqiao and Shandong Dongda.

($1 = CNY7.20)

By: Chow Bee Lin
+65 6780 4359

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