20 May 2008 05:17 [Source: ICIS news]
SHANGHAI (ICIS news)--Sinopec subsidiary Qilu Petrochemical plans to shut down its 54,000 tonne/year acrylic fibre (AF) plant in early June for maintenance, a company source said on Tuesday.
"High feedstock acrylonitrile (ACN) values squeezed our margins amid sluggish demand," the source added.
ACN prices have risen yuan (CNY) 100/tonne ($14/tonne) from pre-Labour Day holiday levels to CNY16,800-17,000/tonne ex-tank east China, traders said.
Acrylic staple fibre (ASF) 3D, a typical staple grade of AF, had increased by CNY100/tonne to CNY17,600-17,800/tonne DEL (delivered) in east China from early last week as some AF plants increased their prices.
Another AF producer Qinhuangdao Acrylic Fibre shut down its 50,000 tonne/year plant early this month due to reduced margins.
Qilu Petrochemical is located at Zibo city in the eastern Chinese province of Shandong.
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