China’s Golden Phillips shuts HDPE plant on high feedstock cost

19 February 2013 03:28  [Source: ICIS news]

SINGAPORE (ICIS)--Shanghai Golden Phillips Petrochemical  has taken off line its 135,000 tonne/year high density polyethylene (HDPE) plant located in Shanghai on 18 February on concerns over high cost of feedstock ethylene, a company source said on Tuesday.

The plant has no fixed restart date. The exact restart schedule will depend on the price of ethylene, the source added.

The price of ethylene CFR North East Asia was $1,380-1,420/tonne last week, up by $10/tonne from $1,380-1,410/tonne on 1 February, according to ICIS.

Local distributors told ICIS that Golden Phillips’ turnaround will not affect the local HDPE market as the plant’s capacity is small.

By: Lizzie Yu

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