03 September 2013 08:11 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Shandong Qisheng Industry & Trade is expected to resume Group I base oils supply from its 70,000 tonne/year plant at Zibo in Shandong province in mid-September, a company source said on Tuesday.
The company plans to restart the unit on 5-6 September, the source added.
The plant in Shandong province was taken off line for maintenance in December 2012, with the restart schedule delayed twice because of firm feedstock prices and an issue with the plant’s catalyst.
Major Chinese suppliers of Group I base oils, Sinopec and PetroChina, raised their prices by yuan (CNY) 100-200/tonne ($16-33/tonne) for September, industry sources said.
However, domestic Group I base oils prices are unlikely to continue on an uptrend as the monthly supply is expected to increase by about 4,000 tonnes in Shandong and northern China, following Shandong Qisheng’s unit restart, the sources said.
Shandong Qisheng mainly produces Group I N60, N150, N250 and N350 base oils grades.
($1 = CNY6.12)
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