02 June 2011 10:11 [Source: ICIS news]
The plant was shut unexpectedly on 18 April and it was initially expected to remain shut for about 45 days.
However, the shutdown was longer than expected as “core facilities, including a compressor and agitator”, were damaged in a fire, the source said.
The company exported surplus stocks of feedstock paraxylene (PX) as a result of the plant’s prolonged shutdown.
A PX cargo for the second half of June was earlier heard sold by Mitsubishi Chemical at $1,500/tonne (€1,050/tonne) CFR (cost & freight) Taiwan/or CMP (China Main Port) to a South Korean trader.
Meanwhile, the demand in
“The [plant's] shutdown has so far had little impact on the local PTA market because of the poor demand during the season,” an Indian polyester maker said.
Major PTA producer Indian Oil said on 26 May it was considering reducing the operating rates at its Panipat-based PTA plant because of poor downstream domestic demand.
($1 = €0.70)
Additional reporting by Bohan Loh
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