China’s Panjin Jinyang Chemical to restart solvent oil plant

20 September 2012 07:48  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Panjin Jinyang Chemical is planning to restart its 146,000 tonne/year solvent oil plant at Panjin in Liaoning province on 24 September, a company source said on Thursday.

The solvent oil plant was taken off line on 6 August for maintenance, according to the source.

The production output from Panjin Jinyang Chemical’s plant will help ease tight supply slightly in northeast China, industry sources said.

However, prices of solvent oil will stay firm, as overall supply remains tight in northeast China, industry sources added.

Mainstream No 100 solvent oils are traded at yuan (CNY) 8,450-8,550/tonne ($1,335-1,350/tonne) on 20 September in northeast China, flat from the previous week’s assessment, traders said.

The conversion is based on the exchange rate on 17 September.

($1 = CNY6.33)

By: Vivian Yan

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