China’s Jilin Chemical Fiber shuts acrylic fibre unit

07 May 2012 08:49  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Jilin Chemical Fiber has shut the two acrylic fibre (AF) plants operated by its subsidiaries in Jilin province for scheduled maintenance that will take more than 15 days, a company source said on Monday.

The two subsidiaries are Jilin Qifeng Chemical Fiber, which can produce 136,000 tonnes/year, and Jilin Jimont Acrylic Fiber, which can produce 100,000 tonnes/year, the source said.

The two plants were operating at 50% of capacity before the shutdown and they are likely to maintain this operating rate after the restart as downstream demand is weak, the source said.

AF prices are likely to be stable this month as many plants are scheduled to be shut for maintenance in May, which will ease stock pressure, said an industry source.

AF prices in China were at yuan (CNY) 18,700-19,000/tonne ($2,973-3,021/tonne) on 7 May, according to ICIS. This works out to $2,420-2,460/tonne after factoring in value-added tax and custom duties.

($1 = CNY6.29)

By: Ivy Ruan

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