16 April 2013 09:25 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Fushun Petrochemical, a PetroChina subsidiary, is expected to restart its 260,000 tonne/year Group I base oils plant at Fushun in Liaoning province in early May, a company source said on Tuesday.
The company shut the plant in early April for a routine turnaround and has suspended spot supplies to the domestic market since the shutdown, the source said.
PetroChina is the sole Group I base oils producer in northeast China.
The company has three plants at Dalian and Fushun in Liaoning province, and at Daqing in Heilongjiang, with a combined monthly Group I base oils supply of about 20,000 tonnes.
Group I base oils prices have been increasing since late March in northeast China after PetroChina shut its Dalian and Daqing base oils plants from mid-March, industry sources said.
Group I base oils were traded at yuan (CNY) 8,800-9,300/tonne ($1,422-1,502/tonne) in northeast China on 16 April, up by CNY50-200/tonne week on week, traders said.
($1 = CNY6.19)
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