23 May 2013 12:13 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Jiangsu Sopo Chemical is running its 600,000 tonne/year acetic acid plant at Zhenjiang at full capacity, after restarting the unit on 19 May, a company official said on Thursday.
The company, meanwhile, shut its two smaller acetic acid plants – a 400,000 tonne/year unit and a 200,000 tonne/year unit – at the site when the bigger unit resumed operations after an outage that lasted nearly seven weeks, the official said.
The biggest of the three plants was unexpectedly shut on 4 April. The plant had experienced several outages since March owing to persistent mechanical issues, according to the official.
“We restarted the 600,000 tonne/year plant on 19 May and shut the other two units at the same time,” the official said.
The move is in line with keeping a balanced supply-demand condition in the market.
Jiangsu Sopo may consider restarting the two units when domestic acetic acid prices recover to yuan (CNY) 3,000/tonne ($489/tonne) ex-tank in the Jiangsu market, the official said.
Local producers raised offers in the Jiangsu region by CNY30-50/tonne to above CNY2,800/tonne ex-tank this week, on the back of limited spot availability following a spate of turnarounds and plant outages.
($1 = CNY6.14)
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