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)
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