11 April 2013 08:40 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Shen Hua Chemical Industrial has cut the operating rate of its 180,000 tonne/year styrene butadiene rubber (SBR) plant to 80% of capacity from April to September because of weak market conditions, a company source said.
The plant was running at 95% of capacity in March, but weak demand has forced the company to further reduce its operating rate to 80% of capacity, the source said.
“We will run the SBR plant at a reduced rate of 80% during the second and third quarters because of poor market conditions, “ the source said.
Non-oil grade 1502 SBR prices averaged $2,100/tonne (€1617/tonne) CIF (cost, insurance and freight) China on 10 April, down by $300/tonne from 13 March, when prices averaged $2,400/tonne CIF China, ICIS data showed.
($1 = €0.77)
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