15 November 2012 07:48 [Source: ICIS news]
Correction: In the story headlined “China's Shanghai Petrochemical shuts 50,000 t/yr BD line”, please read in the first paragraph… for maintenance on 20 November… instead of …for maintenance on 13 November… and in the second paragraph …on 22 November… instead of … on 17 November. A corrected story follows.
SINGAPORE (ICIS)--China's Shanghai Petrochemical plans to shut its 50,000 tonne/year butadiene (BD) line in Shanghai for maintenance on 20 November, a source close to the company said on Thursday.
The producer plans to restart the line on 22 November, the source said, adding the shutdown may lead to a loss of about 750 tonnes of BD in November.
Shanghai Petrochemical has a 70,000 tonne/year BD line at the same site, which was shut on 22 October and restarted on 8 November, leading to a loss of about 3,500 tonnes of BD, according to the source.
The shutdown has made BD market participants more optimistic about the outlook, as supply in the Chinese domestic BD market is ample at present, a trader said.
Shanghai Petrochemical's BD price was at yuan (CNY) 14,800/tonne ($2,376/tonne) EXW (ex-works) on 15 November, according to Chemease, an ICIS service in ?xml:namespace>
However, BD prices are expected to drop in November because of weak demand from the downstream butadiene rubber (BR) and styrene butadiene rubber (SBR) sectors, another trader said.($1 = CNY6.23)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections