15 October 2013 08:20 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Lanzhou Petrochemical shut its 200,000 tonne/year low density polyethylene (LDPE) plant in Gansu province on 14 October on back of a technical issue, a company source said on Tuesday.
The shutdown may last for one week as the company fixes the problem at the cooling device, the source added.
The domestic LDPE prices have increased to record-high in more than two years, and the shutdown is expected to support the current LDPE prices, according to market sources.
On 14 October, locally produced LDPE film grade prices were assessed as up by 3.3% week on week to yuan (CNY) 12,900-13,350/tonne ($2,111-2,185/tonne), the highest level since early August 2011, according to Chemease, an ICIS service in China.
($1 = CNY6.11)
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