DATE : 2010-10-13

 

China’s Wan Chio (BVI) Company plans to shut down its 80,000 tonne/year butyl acrylate (butyl-A) unit at Nantong in Jiangsu province on 14 October, citing weak market sentiment, a company source said on Monday. 

Meanwhile, the company also has taken off line its 80,000 tonne/year acrylic acid unit at the same site on 11 October, the source said. The restart dates have yet to be confirmed, the source added.

The company has been facing persistent low prices and poor market sentiment, the company source said.

Recently, acrylic acid prices in the Chinese domestic market have been very low, and the weak demand led to suppliers fs=acing squeezed margins, market sources said.

SOURCE Icis News