China’s Shandong Hongxin Chemicals to restart DOP plant in June

30 May 2013 08:36  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Shandong Hongxin Chemicals has planned to restart its 150,000 tonne/year dioctyl phthalate (DOP) unit at Zibo in Shandong province at the beginning of June, a source close to the company said on Thursday.

The unit was shut on 26 May on the back of high inventory pressure.

The restart may push down DOP prices further in the domestic market because of the increased supply and weak demand, a trader said.

Domestic DOP prices in east China were assessed at yuan (CNY) 11,550/tonne ($1,884/tonne) EXWH (ex-warehouse) east China on 29 May, up by CNY70/tonne compared with CNY 11,480/tonne on 24 May, according to Chemease, an ICIS service in China.

China’s Shandong Hongxin Chemicals is a key plasticizer producer at Zibo in Shandong  province.

($1 = CNY6.13)

By: Cindy Qiu

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