Indorama to restart Rotterdam PTA/PET next week

12 June 2008 14:10  [Source: ICIS news]

LONDON (ICIS news)--Indorama should restart its purified terephthalic acid (PTA) and polyethylene terephthalate (PET) units in Rotterdam, the Netherlands next week with inventories normal by the end of June, said a company source on Thursday.

The plant was down for a planned three-week maintenance and the restart would be welcomed by market sources, especially those in the PTA market where force majeure declarations from other producers BP and Interquisa have tightened European supply.

Indorama's PTA capacity was rated at 290,000 tonnes/year at the Rotterdam site, with PET at 180,000 tonnes/year, according to ICIS plants and projects.

Talks continued on June PET contracts, with sellers reporting increases of €50-60/tonne ($78-94/tonne), although some buyers were holding out for closer to plus €30/tonne.

($1 = €0.64)

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By: Edward Cox
+44 20 8652 3214

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