03 November 2008 09:23 [Source: ICIS news]
SHANGHAI (ICIS news)--China-based Shijiazhuang Fibre Corp shut down its 65,000 tonne/year caprolactam unit on 3 November due to poor margins, weak downstream demand and falling prices, a company source said on Monday.
"The plant will not restart until March next year," the source said in Mandarin.
"It is very difficult to sell cargoes to buyers presently due to the supply glut and as downstream buyers expect prices to decline further," he added.
Domestic caprolactam prices fell yuan (CNY) 3,500/tonne ($513/tonne) from two weeks ago to CNY13,000/tonne EXW (ex-works), traders said.
The company is located in Shijiazhuang, the capital of northern Hebei province.
($1 = CNY6.84)
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