22 September 2008 12:07 [Source: ICIS news]
TOKYO (ICIS news)--Japanese refiner Idemitsu Kosan is to reduce the operating rate at its paraxylene plant in Chiba prefecture to 75% from this week due to declining demand for polyester, a company spokeswoman said on Monday.
Idemitsu would start operating the 265,000 tonne/year paraxylene unit at 75% on 25 September and the reduction would last until the end of November, the spokeswoman said, adding the unit was currently operating at full rates.
The profitability of paraxylene was worsening because the overall polyester chain was weak due to the slowdown in the world economy, Idemitsu said.
Meanwhile, Idemitsu’s 214,000 tonnes/year paraxylene unit in Tokuyama, Yamaguchi prefecture, has been shut down for a turnaround since mid-September. This is expected to be completed by the end of November, the spokeswoman said.
At the time of its restart, the producer would decide on the operating rates at the unit after assessing market conditions, she added.
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