20 February 2012 09:51 [Source: ICIS news]
SINGAPORE (ICIS)--Jinzhou Petrochemical shut its 30,000 tonnes/year butadiene rubber (BR) plant over the weekend as the company’s margins are being eroded by the high cost of feedstock butadiene (BD), a source close to the company said on Monday.
The plant at ?xml:namespace>
No definite restart date was set for the plant, the source said.
Jinzhou Petrochemical is a subsidiary of China's state-owned oil and gas giant PetroChina.
A number of BR producers, including China’s Shanghai Gaoqiao, South Korea’s LG Chem and Korea Kumho Petrochemical (KKPC), Taiwan’s TSRC and Thailand’s BST Elastomers, have either shut or cut operating rates at their facilities because of soaring BD prices.
Spot BD prices in Asia were assessed at $3,900-3,950/tonne (€2,964-3,002/tonne) CFR (cost and freight) NE (northeast)
($1 = €0.76)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections