09 January 2014 08:55 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Dalian Petrochemical, a PetroChina subsidiary, plans to shut its 450,000 tonne/year Group I base oils plant at Dalian in Liaoning province in April for maintenance, a company source said on Thursday.
No commercial supply of Group I base oils will be available during the shutdown, the source said.
Moreover, the company has started to ration commercial supplies as it is building stocks in preparation for the shutdown in April.
Therefore, its list prices for SN150 and SN400 base oils were adjusted up by yuan (CNY) 80-130/tonne ($13.20-21.50/tonne) on 8 January, the source said, adding that the company has yet to offer SN650 base oils.
The company’s list prices for SN150 and SN400 base oils are at CNY8,900/tonne and CNY9,080/tonne respectively after the adjustment.
Group I base oils prices are expected to increase in northeast China in April as supply is likely to tighten and demand will be robust during the spring consumption peak of March-May, industry sources said.
Dalian Petrochemical mainly produces Group I SN150, SN400 and SN650 base oils.
($1 = CNY6.05)
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