China’s Shandong Hongxin starts new 60,000 tonne/year PA unit

23 July 2012 06:37  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Shandong Hongxin Chemical started a new 60,000 tonne/year phthalic anhydride(PA) plant in Shandong province on 21 July, a company source said on Monday.

The current operating rate of the unit was not immediately known.

Production at the new facility will ease the tight domestic phthalic anhydride(PA) supply in north China, a local market player said.

The spot prices of phthalic anhydride(PA) in north China were at yuan (CNY) 11,000-11,100/tonne ($1,727-1,743/tonne) ex-tank on 20 July, an increase of CNY1,650/tonne from 2 July because of tight supply, according to data from Chemease, an ICIS service in China.

However, prices are likely to remain stable-to-soft in response to the new start up, the market player added.

($1 = CNY 6.37)

By: Lina Xu
+65 6780 4359

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