China’s Feb terephthalic acid imports fall 20% on ADD
24 March 2010 06:19 [Source: ICIS news]
SINGAPORE (ICIS news)--China took in 20% less terephthalic acid in February to 449,000 tonnes compared to January levels, following the implementation of a provisional antidumping duties (ADD) on material coming from South Korea and Thailand, market sources said on Wednesday.
The February import numbers included 372,000 tonnes of purified TA (PTA), which fell 20% from the previous month. Imports of qualified TA (QTA) products, meanwhile, registered an 18% month-on-month decline to 77,000 tonnes, a source said.
?xml:namespace>China had begun levying provisional ADD on PTA imports from South Korea and Thailand from 3 February.
“Except [for] the slow trading around the Chinese New Year holiday period, the provisional ADD policy had a great impact on imports,” said a major Chinese trader who deals in South Korean imports.
PTA imports from South Korea declined 30% month on month to 130,000 tonnes in February, while QTA imports fell 23% to 67,000 tonnes, the market source said.
Imports from Thailand slipped 16% in February to 42,000 tonnes, the source added.
“Korean imports are expected to fall further in March,” said another Chinese trader, adding that some Korean producers had cut production through shutdowns to cushion the negative impacts from the ADD.
Samnam Petrochemical has brought forward the 10-day turnaround at its 300,000 tonne/year No 1 QTA plant at Yosu, Chonnam from April to mid-March.
Hyosung Petrochemical also shut down its 420,000 tonne/year PTA plant on 18 March for a 10-day scheduled maintenance.
A Zhejiang-based downstream polyester producer said that it had reduced PTA imports from Korea recently as it could not agree on a pricing strategy with suppliers after the ADD came into force.
For more information on PTA, visit ICIS chemical intelligenceBy: Becky Zhang+65 6780 4359
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