14 May 2013 10:37 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Tianjin Lugang Petroleum Rubber has cut the operating rate at its 100,000 tonne/year styrene butadiene rubber (SBR) plant to 50% capacity since early May, a company source said on Tuesday.
The plant in Tianjin, which consists of two 50,000 tonne/year lines, produces non-oil grade 1502, non-oil grade 1500 and oil-extended grade 1712, according to the source.
The company has reduced the plant’s run rate because of squeezed margins and is currently only running one of the two lines that produces non-oil grade 1502, the source added.
SBR prices for non-oil grade 1502 were assessed at yuan (CNY) 12,800-13,400/tonne ($2,081-2,179/tonne) ex-tank in east China on 1 May, down by CNY1,900-2,000/tonne over a month, according to Chemease, an ICIS service in China.
Tianjin Lugang Petroleum Rubber is a privately owned rubber producer based in Tianjin, northern China.
($1 = CNY6.15)
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