China's Daqing Shihua restarts paraffin wax unit

06 July 2009 03:56  [Source: ICIS news]

SINGAPORE (ICIS news)--Daqing Shihua Petrochemical, a subsidiary of state-owned oil giant PetroChina, has recently restarted its 120,000 tonne/year paraffin wax unit in Heilongjiang province after a scheduled maintenance, a source close to the company said on Monday.

The plant located in northeastern China came back on line in the second half of June following a shutdown in late May, the source added.

The company has a smaller 90,000 tonne/year paraffin wax unit on the same site, named Daqing Lianhua Petrochemical.

Solid paraffin wax prices were stable in the key China market at $1,160-1,200/tonne (€835-864) FOB (free on board) China Main Port (CMP) for the benchmark fully-refined 58/60ºC grade, according to global chemical market intelligence service ICIS pricing.

Other regional producers include Sinopec and Taiwan Wax Co.

($1 = €0.72)

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By: Heng Hui
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