08 April 2005 07:27 [Source: ICIS news]
SINGAPORE (CNI)--China’s Yangzi Petrochemical Co (YPC) shut its 350,000 tonne/year No 2 PTA line in Nanjing on Wednesday for maintenance, company source told CNI on Friday.
The shutdown is expected to last one week, he said. The source added that part of the reason for the shutdown was poor economics, with PTA prices languishing at $830-840/tonne CFR China due to lacklustre demand. This is $50-60/tonne lower from early March levels.
Although YPC is not the biggest producer in China, its lower production this week should exert some upward pressure on PTA spot prices. This is because it is the top contract seller and together with Xianglu Petrochemical, sets the monthly domestic price in the country.
YPC operates a second 350,000 tonne/year line at its Nanjing site. Operations are at an optimal level of around 90-95% at this line.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|