China Gaoqiao Petchem shuts down fourth BR line

11 September 2008 05:37  [Source: ICIS news]

SHANGHAI (ICIS news)--Sinopec subsidiary Shanghai Gaoqiao Petrochemical has shut down its fourth and last butadiene rubber (BR) line, a company source said on Thursday.

He attributed the shutdowns to high feedstock butadiene (BD) cost and Sinopec’s BD output reduction in September.

The company operates four BR lines each of 30,000 tonnes/year in Shanghai, totaling 120,000 tonnes/year. The other three lines have been shut from 21 July.

The fourth BR line, which was operating at a low rate since it restarted on 12 August, was shut down on 3 September, the source said in Mandarin, adding that the restart date was unknown.

Domestic BD prices dipped yuan (CNY)2,000/tonne($292.4/tonne) from last week to CNY22,000/tonne ex-works(EXW), traders said adding BD values were still very high despite the price fall.

($1 = CNY6.84)

Amy Tong and Helen Yan contributed to this article

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