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
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections