08 March 2013 09:57 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Fushun Petrochemical has increased the operating rates at its 30,000 tonne/year methyl ethyl ketone (MEK) facility in Liaoning province to 90% from 60-70% in February, a company source said on Friday.
The company has yet to set a restart date for its second 25,000 tonne/year plant at the same site, the source said. The facility was shut since May 2012 because of a shortage of feedstock C4 supply.
Chinese MEK domestic prices have come under pressure from increased production after the Lunar New Year holiday (9-15 February) and a slow recovery in downstream demand.
“MEK domestic consumption did not improve as expected after the holiday. The export market is also slow because of ample supply,” a Chinese producer said.
Prices in east China were at yuan (CNY) 8,450-8,500/tonne ($1,359-1,367) ex-tank on 8 March, down by CNY150-200/tonne from prices a week ago, according to Chemease, a service of ICIS.
($ 1 = CNY6.22)
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