30 July 2013 05:29 [Source: ICIS news]
SINGAPORE (ICIS)--Chinese firm Shandong Dongchen's propylene oxide (PO) plant has remained shut since early June because of a combination of factors that include unresolved mechanical issues and weak demand, market sources said on Tuesday.
The company's 50,000 tonne/year unit is located at Shandong province.
Domestic PO producers in China have been faced with narrowing profit margins during the second and third quarters as a result of moderating economic growth in China this year, on top of tightening liquidity.
Early in the week, spot PO prices in east China hovered at yuan (CNY) 11,800-12,000/tonne ($1,925-1,958/tonne) DEL (delivered), according to ICIS data.
($1 = CNY6.13)
Additional reporting by Vikki Shen
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