22 October 2012 07:15 [Source: ICIS news]
SINGAPORE (ICIS)--China's Shanghai Petrochemical shut its 70,000 tonne/year butadiene (BD) line in Shanghai for maintenance as planned, on 22 October, a source close to the company said on Monday.
The Chinese producer plans to restart its line on 10 November, the source said, adding the shutdown may lead to a loss of about 3,500 tonnes of BD in October and November.
The shutdown has made some BD market participants more optimistic about the outlook, as supply in the Chinese domestic BD market is ample, a trader said.
Shanghai Petrochemical's BD price was at yuan (CNY) 16,300/tonne ($2,604/tonne) EXW (ex-works) on 22 October, according to Chemease, an ICIS service.
However, a separate trader said BD prices are still expected to drop in October because of weak demand from the downstream butadiene rubber (BR) and styrene butadiene rubber (SBR) sectors.
Shanghai Petrochemical has a 50,000 tonne/year BD line at the same site and had not decided on any maintenance shutdown plans for it yet, according to the source close to the company.
($1 = CNY6.26)
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