China's NZLC may restart Ningbo PO unit over the weekend
17 August 2012 12:02 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>China’s Ningbo ZRCC Lyondell Chemical (NZLC) may restart its propylene oxide (PO) plant at Ningbo, Zhejiang province, either Saturday or on Sunday following an unscheduled shutdown on 14 August, sources close to the company said on Friday.
The 285,000 tonne/year PO unit, the largest facility in eastern China, was taken off line earlier in the week for mechanical repairs.
In the wake of the plant closure, spot PO prices in the domestic Chinese market had shot up by around yuan (CNY) 300-400/tonne ($47-63/tonne) from 14 August to CNY13,100-13,200/tonne DEL (delivered) east China on Friday because of limited availability and stable demand.
Further gains are likely when the market resumes trading on Monday if the NZLC plant is not restarted over the weekend, industry participants said.
NZLC is a joint venture between LyondellBasell and Zhenhai Refining & Chemical Co (ZRCC), a subsidiary of China’s petrochemical giant Sinopec. The company also runs a 620,000 tonne/year styrene monomer (SM) plant at the site.
($1 = CNY6.37)
Additional reporting by Vikki Shen in ShanghaiBy: Jingyi Chan65 6780 4259
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial
to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free
trial to ICIS Chemical Business.