24 July 2012 08:21 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Jinzhou Petrochemical plans to shut its 60,000 tonne/year styrene monomer (SM) unit at Jinxi in Liaoning province in late July for 60 days of maintenance, a company source said on Tuesday.
The unit can produce 3,000-4,000 tonnes/month of SM, which are supplied to the northern China market, the source added.
The producer will halt its contractual and spot supply from the plant during the shutdown period, the company source said.
Jinzhou Petrochemical’s shutdown, in addition to Panjin Petrochemical’s 1 August scheduled turnaround at its 225,000 tonne/year plant at Panjin in Liaoning province, will tighten spot and contractual SM supply in north China, market sources said.
The tightened supply as well as strengthening demand amid the traditional July-August peak demand season is likely to push up prices in August, market sources added.
SM prices were at yuan (CNY) 10,500/tonne ($1,643/tonne) DEL (delivered) north China on 23 July, down by CNY150-200/tonne from 20 July, according to Chemease, an ICIS service in China.
($1 = CNY6.39)
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