04 October 2010 08:51 [Source: ICIS news]
The plant was originally scheduled to start operations in late September.
“The market is not good,” the official said in Mandarin, citing current oversupply and sluggish demand in the acetic acid market.
Chinese domestic acetic acid prices remained on a downward trend last week, hitting 20-month lows of yuan (CNY) 2,500-2,700/tonne ($374-403/tonne) ex-tank in eastern China in post mid-Autumn holiday trades. The prices were down CNY50/tonne from pre-holiday levels, based on ICIS data.
Major acetic acid producers in
($1 = CNY6.69)
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