22 June 2011 13:22 [Source: ICIS news]
Correction: In the ICIS story headlined “China’s Qingdao Petrochemical shuts PP plant for maintenance” dated 22 June 2011, please read the headline as “China's Qingdao Refining and Chemical shuts PP plant”. In the first paragraph, please read … China's Qingdao Refining and Chemical... instead of... China's Qingdao Petrochemical... And please read in the first paragraph… shut its 200,000 tonne/year polypropylene (PP) plant… instead of… shut its 20,000 tonne/year polypropylene (PP) plant… A corrected story follows.
SHANGHAI (ICIS)--China's Qingdao Refining and Chemical, a subsidiary of Sinopec, shut its 200,000 tonne/year polypropylene (PP) plant in Qingdao, Shandong province, on Wednesday for a 45-day turnaround, a source close to the company said.
The company produces mainly biaxially-oriented PP (BOPP), but the shutdown is unlikely to have a significant impact on supply in the region because two other producers – Jinan Petrochemical and Qilu Petrochemical – will increase production of this grade, the source said.
Prices are thus not expected to be significantly affected, he added.
Locally-produced BOPP resin was offered in China at yuan (CNY) 11,700-12,300/tonne ($1,808-1,901/tonne) EXWH (ex-warehouse) or EXW (ex-works) during the week ended 17 June, according to Chemease, an ICIS service in China.
Company officials from Qingdao Refining and Chemical were not immediately available to comment.
($1 = CNY6.47)
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