26 June 2012 07:20 [Source: ICIS news]
Correction: In the ICIS news story headlined "China’s Sinopec Yangzi to shut MEG plant in mid-July" dated 26 June 2012, please read in the fourth paragraph ... a diethylene glycol (DEG) production loss of 1,000 tonnes ... instead of ... a diethylene glycol (DEG) production loss of 18,000 tonnes .... A corrected story follows.
SINGAPORE (ICIS)--China’s Sinopec Yangzi plans to shut its 180,000 tonne/year monoethylene glycol (MEG) unit at Nanjing in Jiangsu province in mid-July for 40 days of maintenance, a Sinopec source said on Tuesday.
The shutdown will result in a total MEG production loss of around 15,000 tonnes, but this will have a limited impact on China’s MEG spot market because of the prevailing high inventory levels and weak demand, the source said.
MEG inventories at Chinese ports were at 700,000-750,000 tonnes, traders said.
The shutdown will also result in a diethylene glycol (DEG) production loss of 1,000 tonnes, the source added. DEG is a co-product of MEG.
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