Yisheng to shut PTA line on oversupply fears

25 April 2008 10:01  [Source: ICIS news]

SINGAPORE (ICIS news)--Major Chinese purified terephthalic acid (PTA) producer Zhejiang Yisheng Petrochemical plans to shut down one of its two PTA lines in Ningbo from next week for two months due to oversupply, a company official said on Friday.

 

“We are shutting down the line mainly because of too much PTA in the market and also due to high [feedstock] paraxylene prices,” he said, in Mandarin.

 

Traders were heard to be building up stocks upon hearing the news, hence pushing up PTA prices.

 

Zhejiang Yisheng has two PTA lines, each with a capacity of 650,000 tonnes/year.

 

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By: Peh Soo Hwee
+65 6780 4359

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