China's Jiangsu Lianhai caps etac plant op rate on weak margins

29 October 2012 03:33  [Source: ICIS news]

MELBOURNE (ICIS)--China’s Jiangsu Lianhai Biological Technology plans to cap the operating rate at its 100,000 tonne/year ethyl acetate (etac) plant at Nantong in Jiangsu province at 60% of capacity, a source close to the company said on Monday.

The plant has been running at no higher than 60% capacity since early October because of weak margins, the source said.

Etac prices in China have been declining since early October, while the costs of feedstocks acetic acid and ethanol have stayed comparatively high.

Domestic etac prices in eastern China fell for the three weeks ended 26 October and closed at yuan (CNY) 6,200-6,350/tonne ($993-1,014/tonne) EXW (ex works) for the week ended 26 October, according to Chemease, an ICIS Service in China.

Etac was at CNY6,400-6,550/tonne EXW in eastern China for the week ended 28 September, according to Chemease.

($1 = CNY6.26)

By: Trisha Huang

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