China’s Shanghai Dragonsky Chemical to restart butac plant
29 August 2012 08:37 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>China’s Shandong Dragonsky Chemical plans to restart its 50,000 tonne/year butyl acetate (butac) plant in Shanghai on 30 or 31 August, a company source said on Wednesday.
The plant was shut on 20 August because of weak demand from downstream sectors and lower domestic prices, according to the source.
As the upstream n-butanol (NBA) costs are firming, the company raised its butac prices by yuan (CNY) 100/tonne ($16/tonne) to CNY9,200/tones EXW (ex-works) on 29 August, according to Chemease, an ICIS service in China.
Prices in east China have risen to reflect firmer selling ideas and concluded deals following the higher costs of n-butanol, a market player said.
The spot prices of butac are likely to be assessed as CNY9,100-9,200/tonne DEL (delivered) east China on 29 August, up by CNY100/tonne from 28 August, according to Chemease.
($1 = CNY6.35)By: Elisa Fu+65 6780 4327
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