02 March 2012 09:20 [Source: ICIS news]
“The plant is [scheduled] to be shut for about 20 days,” the source said.
The producer was operating the plant at around 85% capacity before the shutdown because of weak market conditions, the source said.
Most Chinese acetic acid producers are struggling with high inventory levels as demand has been bearish, according to industry sources.
The prolonged weak demand did not recover following the Lunr New Year holiday as expected, while supply grew.
The prices of acetic acid are at yuan (CNY) 2,750-3,000/tonne ex-tank east
“It is expected that more and more producers will cut their operating rates or shut [their plants] if the prices decrease further and demand [is unable to] rebound,” a major trader in
Major acetic acid producers in
($1 = CNY6.30)
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