China’s Xinxiang Shenma to close its PVC unit in Henan

21 July 2014 10:59 Source:ICIS News

SINGAPORE (ICIS)--China-based Xinxiang Shenma Zhenghua Chemical, a subsidiary of Shenma Group, plans to permanently shut down its 50,000 tonne/year polyvinyl chloride (PVC) plant in Henan in light of losses, a company said on Monday.

The company has suffered steep losses for several months, and the management seems to have no intention of running the plant again, which was shut down since mid-July for maintenance, the source added.

Prior to the shutdown, the company had operated the plant at very low rates, the source said.

In general, the shutdown is unlikely to have a significant impact on the spot PVC market because there is sufficient supply in the local market, market sources said. 

By Vivian Jiao