China's Jilin Petrochemical cuts phenol/acetone output

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.

Jilin Petrochemical was the third phenol/acetone maker in China to reduce its output, following similar actions taken by Sinopec SABIC Tianjin and Bluestar Harbin Petrochemical.

Additional reporting by Trisha Huang

By: Jenny Yi

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