01 March 2010 04:06 [Source: ICIS news]
SINGAPORE (ICIS news)--Sinopec’s Yanshan Petrochemical 80,000 tonne/year paraffin wax unit in northern China is currently running at normal operating rates after restarting early this year, market participants said on Monday.
The unit was shut in mid-November for scheduled maintenance, sources said.
The plant's wax capacity refers to the total production of fully and semi-refined paraffin waxes.
Spot paraffin wax prices increased by $20/tonne last week in the key China market at $1,460-1,520/tonne (€1,066-1,110/tonne) FOB (free on board) China Main Port (CMP) for the benchmark fully-refined 58/60ºC solid paraffin wax due to tight supply, according to global chemical market intelligence service ICIS pricing.
Market players said the restart of the plant would not have much impact on the tight supply situation as its capacity was considered small.
Other regional producers include PetroChina and Taiwan Wax Co.
($1 = €0.73)
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