02 August 2011 10:51 [Source: ICIS news]
SHANGHAI (ICIS)--Dushanzi Petrochemical, a subsidiary of ?xml:namespace>
The sharp increases in the domestic PE and PP prices have motivated the producer’s change of plan, the source said.
The weekly average prices of the benchmark film grade high density PE (HDPE) and yarn grade PP were at yuan (CNY) 11,850/tonne EXWH ($1,843/tonne EXWH) and CNY 12,675/tonne EXWH, respectively last week, which were 2.6% and 3.7% higher from the previous week, according to Chemease, an ICIS service in China.
“The producer would have missed out on the current uptrend if it had shut the plant in end July," he added.
The facilities, including a 1m tonne/year cracker, a 300,000 tonne/year high density polyethylene (HDPE) unit, a 600,000 tonne/year LLDPE/HDPE swing plant, a 300,000 tonne/year polypropylene (PP) unit and a 250,000 tonne/year PP unit, were originally scheduled to shut from end July for a two-month turnaround.
($1 = CNY6.43)
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