12 November 2013 03:29 [Source: ICIS news]
SINGAPORE (ICIS)--China’s CNOOC and Shell Petrochemicals Co (CSPC) has shut its 320,000 tonne/year monoethylene glycol (MEG) unit in Guangdong province on 10 November because of mechanical issues, a company source said on Tuesday.
The restart date for the unit was not immediately available.
However, some market players said that the unit is expected to restart soon and the relatively short shutdown period would have a limited impact on the market.
The MEG spot prices were assessed at $1,034-1,042/tonne (€776-782/tonne) CFR (cost & freight) CMP (China Main Port) on 11 November, $1-6/tonne higher than prices on 8 November, which was mainly supported by the rising trades in the electronic trading market, according to ICIS.
($1 = €0.75)
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