08 June 2012 09:45 [Source: ICIS news]
Correction: In the ICIS story headlined "?xml:namespace>
SINGAPORE (ICIS)--South Korea's Hanwha Chemical has shut its 300,000 tonne/year ethylene-based polyvinyl chloride (PVC) plant at
The plant was taken off line on 8 June and will be restarted on 23 June, the source said.
The plant was operating at 70-80% of capacity before the shutdown, the source added.
“We have ample inventories for a whole month of sales due to the bearish market,” said the source.
The company’s offer was at yuan (CNY) 7,000/tonne ($1,099/tonne) EXW (ex-works) on 8 June, according to the source.
Spot ethylene-based PVC prices in east
However, the transaction volume in
“The main reason is that supply always exceeds demand, making end-users reluctant to replenish their stocks,” a local trader said.
($1 = CNY6.37)
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