Corrected: China’s polyester producers cut rates, shut units on weak demand

11 November 2011 10:03  [Source: ICIS news]

Correction: In the ICIS story headlined "China’s polyester producers cut rates, shut units on weak demand" dated 11 November 2011, please read in the seventh paragraph ... Also at Jiangyin ... instead of ... Also at Wujiang....  A corrected story, with recast fourth paragraph, follows.

SINGAPORE (ICIS)--Some polyester producers in China have cut production or shut their plants because of weak demand and increasing inventories, industry sources said on Friday.

In addition, declining exports of textile products caused producers to shut or plan shutdowns at their units.

The export of textile products decreased from 26bn in July to 20bn in October, according to China Customs data.

Some producers lowered the operating rates at their plants to 75% of capacity in early November from above 80% in September.

In Jiangsu province, Huahong Group shut its 250,000 tonne/year polyester staple fibre (PSF) line at Jiangyin on 31 October, a company source said, adding that the company has not yet confirmed when it will restart the line.

Hengli Group shut its 200,000 tonne/year polyester filament yarn (PFY) line at Wujiang on 31 October for maintenance that will take 20 days, a company source said.

Also at Jiangyin, Jiangsu Sanfangxiang Group is planning to shut one of its 12 PSF lines in late November, a company source said. The line has a capacity of 200,000 tonnes/year and the company has not yet confirmed when it will restart the line, the source added.

In Zhejiang province, Zhuocheng Chemical Fibre is planning to shut its 180,000 tonne/year PFY line at Ningbo on 20 November for maintenance, while Huatesi Polymer Technical is planning to shut its 180,000 tonne/year PFY line at Huzhou later in the month, company sources said.

The turnarounds will take 40 and 20 days respectively, they added.

In addition, Huaxin Group is planning to shut its 360,000 tonne/year PFY line at Xiaoshan on 15 December for maintenance that will take 45 days, a company source said.

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By: Sunny Chen

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