05 June 2008 09:48 [Source: ICIS news]
SHANGHAI(ICIS news)--PetroChina subsidiary Daqing Petrochemical plans to shut down its 100,000 tonne/year acrylonitrile butadiene styrene (ABS) on 10 June for a 15-day maintenance, a company source said on Thursday.
"The market supply might be very tight in June due to Daqing’s turnaround, plus the fact that Jilin Petrochemical is also undergoing a turnaround at its 180,000 tonne/year ABS facility from 10 May to 23 June," a local trader said adding that prices of ABS would continue to rise this month.
ABS prices have surged by yuan (CNY)1,000-1,150/tonne ($144-166/tonne) to CNY16,650-17,000/tonne delivered (DEL) east China this month due to high feedstock costs, traders said.
Lanzhou Petrochemical, another PetroChina subsidiary, operates a 50,000 tonne/year ABS plant.
Daqing Petrochemical is located in Daqing city, in the northeastern Chinese province of Heilongjiang.
($1 = CNY6.94)
Paris Lv of CBI contributed to this article
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