Operation rates of minor refineries in South China's Guangdong Province averaged 24% as of Aug 25, flat with a week earlier but up by 10 percentage points from the same period last year, according to C1 research.
The rates were affected by feedstock shortage and drops in prices of high-sulphur residue, which is a kind of product of the refineries, market sources said.
Seven minor refineries were still in operation as of Thursday, with throughput at around 9,850mt per day, flat on week, C1 research showed.
C1's research involves all 19 minor refineries in Guangdong, with annual refining capacities aggregating 14.85-mil mt.
