07 February 2012 08:13 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Sinopec Jiujiang has resumed its solvent oils supply for February after achieving normal operations at its 10,000 tonne/year solvent oils plant at Jiujiang in Jiangxi province, a company source said on Tuesday.
Its plant was shut on 20 September last year for maintenance and restarted in late October.
However, Sinopec Jiujiang could not run the plant smoothly following its restart and this caused the producer to halt its supply of solvent oils for four straight months since late October, according to the source.
The producer plans to supply 700-800 tonnes of its #120 grade to the Chinese spot market this month, but will continue to suspend the supply of its #6 grade because its output is still insufficient, he added.
Sinopec Jiujiang’s resumption of solvent oils supply will relieve the tight supply in central China, but prices are expected to remain largely steady as demand is stable, market sources said.
The producer’s #120 grade was traded at yuan (CNY) 8,700-8,800/tonne ($1,379-1,395/tonne) in central China this week, flat on the previous week, traders said.
Sinopec Jiujiang is a subsidiary of Chinese petrochemical giant Sinopec.
($1 = CNY6.31)
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