18 December 2012 03:53 [Source: ICIS news]
MELBOURNE (ICIS)--China's Jilin Petrochemical, a subsidiary of PetroChina, has cut the operating rate at its 120,000 tonne/year phenol/acetone plant to 80% capacity because of weak market conditions, sources close to the company said on Tuesday.
The producer cut its plant operating rate from 100% capacity in response to the margin erosion caused by persistently high feedstock benzene costs as well as a build- up in its phenol inventory, the sources said.
Additional reporting by Trisha Huang
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