16 May 2012 04:57 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Jilin Petrochemical is planning to shut its 150,000 tonne/year stryrene butadiene rubber (SBR) facility in Jilin province for a 40-day turnaround on 26 May, a source close to the company said on Wednesday.
The shutdown will help to ease PetroChina’s high SBR inventory levels, the source added.
Domestic SBR prices have been weighed down by weak buying interest and falling feedstock butadiene (BD) prices since April.
Non-oiled SBR 1502 prices were at yuan (CNY) 19,600-20,500/tonne ($3,101-3,244/tonne) EXWH (ex-warehouse) east China on 10 May, down by CNY3,900-4,000/tonne from early April, ICIS data showed.
Oil-extended SBR 1702 prices were at CNY16,500-16,600/tonne EXWH east China on 10 May, down by CNY3,700/tonne from early April.
Despite the shutdown, most SBR players said they will maintain a wait-and-see stance as they think the drop in supply may be cancelled out by weak demand and the prevailing poor economic situation.
Jilin Petrochemical is a subsidiary of PetroChina.
($1 = €0.79, $1 = CNY6.32)
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