05 September 2012 09:48 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Shandong Hongye Chemical Industrial Group increased the operating rate of its 140,000 tonne/year adipic acid (ADA) plant to full capacity from 70-80% because of higher ADA prices, a company source said on Wednesday.
“We are now increasing the operating rate of our plant to 100% because of increasing ADA prices and low inventory,” the source said.
The company had reduced its operating rate to 70-80% in the past few months amid falling ADA prices and weak demand.
Asia spot ADA prices rose by $50/tonne (€40/tonne) week-on-week to $1,550-1,700/tonne CFR NE Asia in the week ended 29 August.
ADA is mostly used to produce nylon 6,6 (polyamide 6,6) and polyurethanes (PU) that are used in shoe soles and polyester resins.
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