Polyprima’s restart sees Asia PTA prices weaken

23 May 2007 11:24  [Source: ICIS news]

SINGAPORE (ICIS news)--Indonesian purified terephthalic acid (PTA) producer Polyprima Karyareksa will restart its 480,000 tonne/year plant in Cilegon on Wednesday about three days earlier than expected, news of which seems to have affected the market with prices falling.  

 

PTA spot deals were at $960/tonne CFR (cost and freight) China today, with an offer at $955/tonne. Polyprima is a major spot seller of PTA and its fortnight-long shutdown had helped keep prices firm at about $960/tonne and higher CFR China in the past week, briefly hitting $970/tonne at one point.

 

“Today, we’ll feed in raw materials again and [the] restart is underway,” said a company source.

 

The plant was supposed to be shut until Saturday but “the maintenance work went smoothly and minor repairs to the dryer were completed earlier than expected”, said the source.

By: Salmon Aidan Lee
+65 6780 4359

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