China’s Sinopec Jiujiang to restart solvent oil plant late August

20 August 2012 11:25  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Sinopec Jiujiang is planning to restart its 10,000 tonne/year solvent oil plant at Jiujiang in Jiangxi province in the later half of August after shutting it in May, a company source said on Monday.

The company suspended its solvent oils production since May because of poor margins, according to the source.

The plant restart will ease the current supply tightness in central China, market sources said.

However, prices of the material may still go up in China as the market remains in undersupply and crude prices are expected to strengthen in the near term, the sources said.

Mainstream No 6 solvent oils were traded at yuan (CNY) 9,100-9,400/tonne ($1,431-1,478/tonne) in east China on 20 August, CNY150/tonne higher than one week ago, traders said.

Sinopec Jiujiang mainly produces No 6 and No 120 solvent oils.

($1 = CNY6.36)

By: Lv Fei
+65 6780 4327

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