Jiangsu Sopo to shut down ethyl acetate line

05 May 2008 08:00  [Source: ICIS news]

SINGAPORE (ICIS news)--Jiangsu Sopo, one of China’s largest ethyl acetate producers, will shut down its 200,000 tonne/year plant in Zhenjiang, Jiangsu province for maintenance in late June, a company official said on Monday.

The shutdown would commence on 26 June and was expected to last five days, he added.

Domestic spot ethyl acetate prices in China rose yuan (CNY)200/tonne ($29/tonne) to CNY7,600-7,700/tonne ex-tank in the eastern region on trades concluded in the week prior to the labour day holidays.

The price rise had reversed four consecutive weeks of declines since mid-March due to ample supply and weak demand from the downstream inks and coatings sector.

Local traders attributed the recent price recovery to strong upstream ethanol costs and emerging supply concerns following heavy export shipments for loading in May.

Other ethyl acetate producers in China include Shanghai Wujing, Jiangmen Handsome Chemicals and Jian Shenghua.

($1 = CNY 6.99)

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Author: Helen Lee
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