S Korea’s Hyosung shuts Ulsan PTA plant for maintenance

18 March 2010 09:12  [Source: ICIS news]

SINGAPORE (ICIS news)--South Korean purified terephthalic acid (PTA) producer Hyosung Petrochemical shut its 350,000 tonne/year in Ulsan on Thursday for scheduled maintenance, a company source said.

The shutdown would last until 30 March, the source said, adding that the company had few cargoes to sell at the moment.

"[The] timing [of the shutdown] is good because it gives us more time to settle the pricing strategy with contract clients after the provisional anti-dumping duties (ADDs) had been slapped," he said.

China had imposed ADDs ranging between 2.4% and 20.1% on PTA imports from South Korea and Thailand starting 3 February this year.

Hyosung is South Korea’s smallest PTA producer.

All Korean PTA producers, including KP Chemicals, Samsung Petrochemical, Samnam Petrochemical, Taekwang Petrochemical, and Hyosung are currently deep in price discussion with customers, market sources said.

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By: Becky Zhang
+65 6780 4359

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