25 May 2012 08:58 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Lanzhou Petrochemical plans to shut its two nitrile rubber (NBR) plants in Gansu province in June, a source close to the company said on Friday.
The company will shut its 50,000 tonne/year NBR plant from 12 June to 16 July for the scheduled maintenance, the source said. The producer had initially planned to shut the plant in July, the source added.
Its 15,000 tonne/year NBR plant at the same site will be shut from 26 June to 16 July, according to the source.
The smaller plant will be shut because of weak downstream demand in domestic market, a NBR market player said.
Lanzhou Petrochemical officials could not be immediately reached for comment.
The producer sold NBR at yuan (CNY) 22,500/tonne ($3,549/tonne) EXWH (ex-warehouse) on 25 May, down by CNY5,500/tonne from mid-March, according to Chemease, an ICIS service in China.
Lanzhou Petrochemical is a subsidiary of PetroChina and is major NBR producer in the country.
($1 = CNY6.34)
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