19 June 2012 09:27 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Guangxi Luzhai Fertilizer shut down its 240,000 tonne/year diammonium phosphate (DAP) plant at Guangxi in south China on Tuesday, a company source said.
“The company shut the plant in light of weak demand in the domestic market,” the source added. “Additionally, [bids] for DAP from Indian buyers stood at $560/tonne [€442/tonne] FOB [free on board], which is too low to make profit for us.”
The plant can produce 240,000 tonnes/year of DAP and 100,000 tonnes/year of monoammonium phosphate (MAP).
The shutdown is not expected to have a significant impact on the domestic market because the plant’s capacity in the region is small, the source added.
($1 = €0.79)
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