17 January 2014 07:23 [Source: ICIS news]
SINGAPORE (ICIS)--China’s YPC-GPRO Rubber Co (YGC) shut its 100,000 tonne/year butadiene rubber (BR) unit at Jiangsu province on 15 January because of poor margins, and the shutdown is expected to last until the end of February, industry sources said.
The company’s margins have been eroded by high feedstock (BD) costs and weak demand, the industry sources said.
The BR unit, located in Nanjing at Jiangsu province, has two 50,000 tonne/year lines.
On 16 January, domestic BD prices in China were at yuan (CNY) 11,200-11,300/tonne ($1,848-1,865/tonne) (DEL) delivered in east China, according to Chemease, an ICIS service in China.
Sinopec Yangzi Petrochemical owns 60% of YGC, while Jiangsu GPRO Group holds the remaining 40%.
Additional reporting by Joey Zhou and Sunny Pan
($1 = CNY6.06)
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