11 June 2012 11:03 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Hongze Yinzhu Chemical Technology is running its 50,000 tonne/year melamine plant at Hongze in Jiangsu province at 80% capacity after starting it up on 8 June, a company source said on Monday.
The company plans to raise the plant’s operating rate to 100% capacity, depending on the performance of the unit, the source said without providing a specific date.
Hongze Yinzhu began trial runs at the plant in early May, according to the source.
The start-up of the melamine plant is unlikely to have a significant impact on spot prices as downstream demand remains weak, an industry source said.
China’s domestic melamine prices were at yuan (CNY) 8,100-8,300/tonne ($1,272-1,303/tonne) EXW (ex-works) on 11 June, down by CNY100-200/tonne from two weeks earlier, according to Chemease, an ICIS service in China.
Hongze Yinzhu is a joint venture between Sichuan Golden Elephant Chemical Industry Group and Jiangsu Yinzhu Chemical Group.
($1 = CNY6.37)
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