09 September 2008 12:16 [Source: ICIS news]
SHANGHAI (ICIS news)--China-based Hebei Jinniu cut the operating rate at its 230,000 tonne/year polyvinyl chloride (PVC) plant by 50% this week due to high feedstock costs and a bearish PVC market, a company source said on Tuesday.
Hebei Jinniu adapted a mixed-processing production technology using feedstock calcium carbide and ethylene dichloride (EDC) for the plant in northern Hebei province
Domestic prices of carbide based-PVC fell yuan (CNY) 400-500/tonne from late August to CNY7,500/tonne EXW (ex-works) basis amid bearish demand, traders said.
Jinniu Chemical, previously named Hebei Cangzhou Chemical, applied for bankruptcy due to financial problems last year.
At the end of 2007, Hebei Jinniu Energy Group acquired the company and then changed its name to current Hebei Jinniu Chemical.
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