12 March 2013 04:07 [Source: ICIS news]
MELBOURNE (ICIS)--China’s Jilin Petrochemical plans to cap the operating rate at its 15,000 tonne/year methyl isobutyl ketone (MIBK) plant at Jilin in northeastern China at 70% capacity "in the near term", a company source said on Tuesday.
The producer cut its MIBK output from full capacity in early March, because of mounting inventories resulting from slow downstream demand against a backdrop of rising imports, the source said.
"There has been a surge in China's MIBK import volume since the start of 2012," said the source.
"The high volume of imports has dented demand for locally produced MIBK," the source added.
China imported about 4,000 tonnes of MIBK a month in January and February 2013, compared with the monthly average of 2,000-2,500 tonnes in 2012, the source said.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections