24 November 2008 06:34 [Source: ICIS news]
SINGAPORE (ICIS news)--China-based Sanming Chemical shut down its 16,000 tonne/year melamine plant in southeastern Fujian province in mid-November for a week-long turnaround, a source close to the company said on Monday.
"We may decide to extend the turnaround period depending on market conditions," the source said, citing prevailing poor demand.
"We are unsure [of] the market condition improving and will have to watch the market in weeks to come before we make a decision," the source added.
Chinese melamine prices fell 25% to $1,150-1,270/tonne FOB (free on board) China, from $1,550-1,650/tonne in end-October, squeezing profit margins for producers.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections