01 February 2012 09:58 [Source: ICIS news]
This is because
Demand for IIR in 2011 was estimated to be about 116,300 tonnes, up by 2,900 tonnes or 2.6% from a year ago, according to data from Chemease, an ICIS service in
The country’s domestic IIR production increased last year after Zhejiang Cenway started production at its 50,000 tonne/year plant at
The only other IIR unit in the country is Yanshan Petrochemical’s 45,000 tonne/year plant at
As a result of the increased production, the prices of IIR fell from yuan (CNY) 47,000/tonne ($7,448/tonne) in February 2011 to CNY22,000/tonne in December and market players imported fewer cargoes, industry sources said.
China's IIR prices in 2011
China's IIR imports in 2011
($1 = CNY6.31)
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