11 December 2013 06:03 [Source: ICIS news]
(adds paragraphs 6-8 on China BR market)
SINGAPORE (ICIS)--China’s Haopu New Material Science and Technology Co Ltd will start up its new 60,000 tonne/year butadiene rubber (BR) plant at Yantai in Shandong province in May 2014, a source close to the company said on Wednesday.
China National Chemical Engineering Group Co started installation works at the plant on 6 December, the company said in a statement.
The new yuan (CNY) 860m ($142m) BR unit is located at the Yantai Economic and Technical Development Zone.
Haopu New Material Science and Technology is partly owned by Jinyu Tire Group Co Ltd, a major tyre producer in China.
BR is a raw material used in the manufacture of tyres for the automotive industry.
Trading in the Chinese BR market has been lacklustre this week as most market players are taking a cautious stance following a recent dip in the prices of feedstock butadiene (BD).
Domestic BR prices were assessed at CNY12,300-13,100/tonne EXWH (ex-warehouse) east China on 10 December, unchanged from 6 December, according to Chemease, in ICIS service in China.
Feedstock BD prices, on the other hand, declined to CNY11,300-11,400/tonne DEL (delivered) east China, down by CNY100-200/tonne over the same period.
($1 = CNY6.07)
Additional reporting by Miki JiangRead John Richardson and Malini Hariharan’s blog – Asian Chemical Connections
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