30 October 2013 03:20 [Source: ICIS news]
MELBOURNE (ICIS)--China’s Rizhao Jiahong Biological Technology plans to further reduce the operating rate at its 100,000 tonne/year ethyl acetate (etac) plant in Shandong province in November because of unfavourable economics, a company source said on Wednesday.
The producer plans to run the plant in Rizhao at about 30% capacity throughout November, from roughly 40% capacity in October, the source said.
Even though there has been a small decline in acetic acid prices in China, co-feedstock ethanol prices have increased on the back of limited product availability, the source said.
Ethanol prices in east China settled yuan (CNY) 150-200/tonne ($25-33/tonne) higher at CNY5,950-6,250/tonne EXW for the week ended 25 October, according to data collated by Chemease, an ICIS service in China.
($1 = CNY6.09)
Additional reporting by Allison Shi
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