China’s Sinopec Cangzhou stops propylene sales after PP restart

29 November 2011 09:24  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Sinopec Cangzhou has stopped selling propylene in the spot market after its derivative 55,000 tonne/year polypropylene (PP) plant at Cangzhou, Hebei province, was restarted on 28 November, a source from Sinopec said on Tuesday.

The producer’s PP plant was shut in the second week of November and Sinopec Cangzhou was earlier selling about 120 tonnes of propylene per day from its refinery at the same site through Sinopec’s north China office, market sources said.

The move to stop sales had no evident impact on the propylene market and spot prices softened to yuan (CNY) 9,500/tonne ($1,487/tonne) ex-tank in Shandong on Tuesday, down by CNY50/tonne from 28 November.

($1 = CNY6.39)

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By: Lilian Hua

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