China's Panjin lowers aromatics op rates 20%

20 March 2008 10:10  [Source: ICIS news]

SHANGHAI (ICIS news)--China-based Panjin Ethylene, a subsidiary of Liaoning Huajin Chemical, has reduced operating rates at its aromatics unit by 20% since early March due to rising feedstock naphtha values, a company official said on Thursday.

The price margin between naphtha and benzene, which has been shrinking since last September, was hitting normal production, the source added.

The aromatics complex in the northeastern province of Liaoning produces 60,000 tonnes/year of benzene, 16,000 tonnes/year of toluene and 9,000 tonnes/year of xylene.

Benzene prices were pegged at yuan (CNY) 9,000-9,100/tonne($1,275-1,289/tonne) ex-tank east China, up CNY100/tonne from last Friday, traders said.

($1 = CNY7.06)

Judith Wang contributed to this article

By: Lynn Huang
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