China’s CNGC Huajin Chemical to shut SM units for maintenance

27 July 2012 03:08  [Source: ICIS news]

SINGAPORE (ICIS)--China North Industries Group Corporation (CNGC) Huajin Chemical plans to shut its 225,000 tonne/year styrene monomer (SM) unit at Panjin in Liaoning province on l August for maintenance, a company source said on Friday.

The unit will remain off line for about 45 days, the source said.

SM from the plant is usually sold in the north China market, the source added.

The producer will stop its contractual and spot supply from the plant during the shutdown period, the source said.

The shutdown will tighten spot and contractual SM supply in north China and consequently may push prices up, market sources said.

SM prices were assessed at yuan (CNY) 10,450-10,500/tonne ($1,635-1,643/tonne) delivery (DEL) north China on 27 July, up by CNY700/tonne from 27 Jun, according to Chemease, an ICIS service in China.

($1 = CNY6.39)

By: Echo Chen

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