China's ZRCC to resume solvent oils sales in April

29 March 2012 05:10  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Sinopec Zhenhai Refining & Chemical Corp (ZRCC) is planning to resume normal sales of solvents oils in April after restarting a plant from maintenance, a company source said on Thursday.

The company has been supplying the market from its existing inventories since 15 February, when it shut its 80,000 tonne/year solvent oils plant at Ningbo for maintenance, the source added.

The plant was restarted late last week, around 10 days ahead of the original schedule on 1 April, said the source, adding that the plant was running stably.

Market sources said that prices of solvent oils are expected to rise in April in line with higher feedstock naphtha costs.

However, the rise would be limited as supply will increase by around 2,000-3,000 tonnes in China next month with the restart of ZRCC’s plant.

No 120 solvent oils were traded at CNY9,700-9,850/tonne ($1,540-1,563/tonne) on 28 March in east China, CNY100-300/tonne higher than one week ago, according to C1 Energy, an ICIS service in China.

($1 = CNY6.30)

By: Vivien Ma

AddThis Social Bookmark Button

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.

Printer Friendly