15 August 2013 10:17 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Jiangsu Sopo Chemical has further cut production at its 500,000 tonne/year ethyl acetate (etac) plant at Zhengjiang in Jiangsu province this week, citing high production costs and poor demand, a company source said on Thursday.
The plant is now operating at 20% of capacity from about 37% previously, the source said.
Jiangsu Sopo is offering etac at yuan (CNY) 5,700-5,800/tonne ($931-948/tonne) EXW(ex-works), the source said.
On Thursday, etac spot prices in the domestic market were assessed at yuan (CNY) 5,600-5,750/tonne EXW (ex-works) in east China, unchanged from Wednesday, according to Chemease, an ICIS service in China.
($1 = CNY6.12)
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