12 December 2012 08:02 [Source: ICIS news]
MELBOURNE (ICIS)--China’s Sinopec SABIC Tianjin Petrochemical has cut the operating rate at its 350,000 tonne/year phenol/acetone unit at Binhai to 70-80% capacity, a company source said on Wednesday.
The producer cut its plant operating rate from 100% capacity in response to margin erosion caused by persistently high feedstock benzene costs as well as a build-up in its phenol inventory, the source said.
The output cut will continue until the market situation improves, the company source added.
Sinopec SABIC Tianjin is the second phenol/acetone producer in China to reduce its plant operating rate, following similar actions taken by Bluestar Harbin Petrochemical in the previous week.
Additional reporting by Trisha Huang
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