China’s Shaoxing shuts down PP on low feedstock

20 May 2008 04:49  [Source: ICIS news]

SHANGHAI (ICIS news)--Shaoxing Sanyuan Petrochemical shut down its 300,000 tonne/year polypropylene (PP) line in Shaoxing, Zhejiang province, east China on 19 May due to lack of feedstock propylene, a company source said on Tuesday.

"The disruption will last around one week and we have initially scheduled to resume production on 26 May," the source added.

The company had stopped sales following the shutdown due to low inventory, the source said.

Sanyuan offered its PP yarn grade at CNY13,550/tonne ($1,944/tonne) while its done deals were around CNY 14,100/tonne ex-warehouse east China, some market players said.

Transaction was subdued this week due to the high prices, some traders said, adding that sentiment and price would remain firm as supply in east China would continue to be tight in the short term.

($1=CNY6.97)

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By: Jade Xu
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