01 March 2013 09:30 [Source: ICIS news]
SINGAPORE(ICIS)--China’s Ningbo ZRCC Lyondell Chemical (NZLC) is considering shutting down its propylene oxide/styrene monomer plant in Zhejiang province this weekend for 10 days of maintenance because of a technical problem at the unit, a source close to the company said on Friday.
Run rates at the facility, which has a nameplate capacity of 285,000 tonnes/year of PO and 620,000 tonnes/year of SM, were reduced on Friday, the source said without providing the exact run rate.
If the company proceeded with the 10-day shutdown, PO production loss is estimated at 8,000-9,000 tonnes, the source said.
Although demand will tighten when the NZLC plant shuts, market players said that PO prices may not increase amid poor demand from downstream markets.
Spot PO prices were at CNY13,050-13,300/tonne ($2,098-2,138/tonne) DEL (delivered) eastern China on Friday, according to data from Chemease, an ICIS service in China.
NZLC is a joint venture between LyondellBasell and Zhenhai Refining & Chemical Co (ZRCC), a subsidiary of ?xml:namespace>
($1 = CNY6.22)
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