10 September 2012 05:14 [Source: ICIS news]
The unit was restarted on 8-9 September, the source said.
The shutdown resulted in a total MEG production loss of around 13,000-14,000 tonnes, according to the source.
The domestic MEG prices has been largely on an uptrend since August, driven by stronger speculative trading activity following shutdowns of plants such as those of SABIC’s affiliate firm Eastern Petrochemical (SHARQ), Kuwait’s EQUATE and some of China’s major MEG producers including Liaoning North Chemical, traders said.
SHARQ's 700,000 tonne/year MEG unit at Al-Jubail in
In light of the plants’ shutdown, the market players looked to stock up cargo, traders added.
MEG spot prices were assessed at yuan (CNY) 8,170-8,200/tonne ($1,289-1,293/tonne) ex-tank east
Liaoning North Chemical is subsidiary to China North Industries Group.
($1 = CNY6.34)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections