Sinopec’s Maoming p-wax plant to remain shut until mid-Feb
06 January 2009 10:17 [Source: ICIS news]
SINGAPORE (ICIS news)--China's Sinopec will keep its 80,000 tonne/year paraffin wax refinery in Maoming, Guangdong province, shut down due to poor refining margins, a source close to the company said on Tuesday.
The plant was likely to remain shut until after the Chinese New Year, which ends by mid-February, the source said.
Fully refined Chinese benchmark 58/60°C grade p-wax was last assessed notionally stable at $910-940/tonne FOB (free on board) CMP (China Main Port), according to global chemical market intelligence service ICIS pricing.
Other regional producers include PetroChina and Taiwan Wax Co.
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By: Heng Hui
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