22 July 2013 07:38 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Sinopec Wuhan Co will start up its new 280,000 tonne/year monoethylene glycol (MEG) plant at Wuhan in Hubei province on 1 August, a company source said on Monday.
The unit was initially scheduled to start up in end-June this year but this was later delayed to the middle of July, the source said.
The source declined to reveal the reasons for the delays.
Most of the plant’s output will be sold to buyers in east China as there are limited downstream producers in Wuhan, according to the source.
Spot prices of MEG has been on an uptrend since early July, with discussions up by $108-112/tonne (€82-85/tonne) to $1,055-1,068/tonne CFR China Main Port (CMP) on 19 July, according to ICIS data.
The start-up of the new unit will not have a major impact on the spot market as most of its output will be delivered to contract-based customers.
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