21 January 2011 02:40 [Source: ICIS news]
“They shut the plant on Wednesday night because of a shortage of CO,” a source said in Mandarin, adding that the plant was expected to resume operations around the middle of February.
The outage contributed to a stable-to-firm outlook on pricing although prices were depressed by the supply surplus conditions prevailing in the market.
Domestic acetic acid prices continued to decline by yuan (CNY) 50/tonne ($7.58/tonne) to CNY2,600-2,850/tonne ex-tank in the eastern region this week.
Prices were perceived to have hit bottom, prompting some producers to raise offers by CNY100/tonne, but the market reaction was largely subdued.
($1 = CNY6.59)
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