30 April 2012 03:41 [Source: ICIS news]
SINGAPORE (ICIS)--PetroChina Daqing Petrochemical’s 250,000 tonne/year Group I plant is currently shut for a month-long maintenance, a company source over the weekend.
The plant was taken off line on 26 April, the source said.
Supplies of premium Group I base oils are expected to fall in the northeast ?xml:namespace>
However, prices of Group I products are expected to remain stable in May despite the tightening of supply, as downstream demand is also likely to weaken next month, they said.
Group I base oils were traded yuan (CNY) 9,900-10,100/tonne ($1,571/tonne-1,603/tonne) ex-works on 28 April, according to C1 Energy, an ICIS service in
Daqing Petrochemical mainly produces Group I SN150, SN200 and SN400 base oils.
($1 = CNY6.30)
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