China’s Rizhao Jiahong shuts etac plant on slow demand

25 April 2013 04:39  [Source: ICIS news]

MELBOURNE (ICIS)--China’s Rizhao Jiahong Biological Technology has shut its 100,000 tonne/year ethyl acetate (etac) plant at Rizhao in Shandong province because of weak market conditions, a company source said on Thursday.

The plant was taken off line on 22 April, the source said, adding that the plant will stay off line for 10-15 days.

The company plans to carry out minor maintenance during the shutdown, the source added.

Prior to the shutdown, Rizhao Jiahong capped its etac plant operating rate at 60% capacity.

Yuan-denomiated domestic etac prices in China have declined for six straight weeks, falling to yuan (CNY) 5,700-5,900/tonne ($922-955/tonne) EXW (ex-works) in eastern China this week, according to Chemease, an ICIS service in China.

($1 = CNY6.18)

Additional reporting by Elisa Fu

By: Trisha Huang

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