18 January 2013 04:00 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Shen Hua Chemical Industrial plans to reduce the operating rate at its 180,000 tonne/year styrene butadiene rubber (SBR) plant in Jiangsu province to 90% in February, a company source said on Friday.
“Market conditions are weak and demand is [likely to be] slow in February with China shut for Lunar New Year,” the source said.
The plant in Nantong is currently running at full capacity, the source said.
Market activities usually slow down in China a week or so prior to the week-long Lunar New Year holiday, which falls on 9-15 February.
On 17 January, domestic non-oil 1502 SBR prices were at yuan (CNY) 16,700-17,200/tonne ($2,685-2,765/tonne) EXWH (ex-warehouse) in east China, down by CNY400/tonne from the previous week, according to ICIS.
($1 = CNY6.22)
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