21 November 2013 03:22 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Zhejiang Shaoxing Sanyuan Petrochemical has been conducting maintenance for its 300,000 tonne/year and 200,000 tonne/year polypropylene (PP) plants at Shaoxing in Zhejiang province since 19 November, a company source said on Thursday.
Both PP plants were taken off line in the evening of 19 November as scheduled, the source added.
The PP plants are likely to remain shut for 10-15 days and be restarted in early December, the source said.
Spot supply of PP raffia yarn has tightened in eastern China, because the long duration of offline PP capacity from Zhejiang Shaoxing Sanyuan Petrochemical, an industry source said.
Market sentiment is bullish as a result, with the producer’s PP raffia yarn offers rising by yuan (CNY) 100/tonne ($16/tonne) on 19 November to CNY12,200/tonne EXWH (ex-warehouse) on 20 November, according to a trader in eastern China.
($1 = CNY6.09)
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