14 February 2003 07:36 [Source: ICIS news]
SINGAPORE (CNI)--Indonesian polyester producer PT Polysindo has cut its purified terephthalic acid (PTA) operating rates to about 80% since early January due to tightness in Asian paraxylene (PX) markets, a source at the company told CNI on Friday.
The source said the company cut its rate to about 80% in the first week of January, from about 87.5% previously, and is producing about 850 tonne/day of PTA.
Polysindo has production capacities of 350 000 tonne/year of PTA for polyester production, including 280 500 tonne/year of polyester fibre chip and 100 000 tonne/year of polyester staple fibre (PSF) in Karawang, West Java.
Several Asian PTA producers have been scaling back their operating rates due to high PX prices, which have been driven by tight supply and high feedstock costs. Asian PX prices in early February shot up about 15% in one week, although they have crept back slightly since then.
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