11 October 2012 12:43 [Source: ICIS news]
The Chinese company shut its 70,000 tonne/year Group I base oil plant at
Shandong Qisheng will continue supplying the Chinese domestic market during the turnaround with its limited stocks, which are lower than its original monthly target of 3,000-4,000 tonnes, the source said.
The supply of on-spec Group I base oils is expected to tighten in the
However, the shutdown of Shandong Qisheng’s plant will have minimal impact on the Chinese base oil market, as there is currently an oversupply of Group I and II product for October, the sources said.
Shandong Qisheng is offering its Group I N60 at yuan (CNY) 9,100/tonne ($1,444/tonne), while its SN150 and SN350 are offered at CNY8,900/tonne, according to a company source.
Group I base oils in
($1 = CNY6.30)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections