23 February 2012 03:22 [Source: ICIS news]
The operating rate at the unit has been lowered to around 80% from close to 100%, the source said.
“The move is to reduce losses and to balance weakened demand,” he added.
The spread between spot PTA and PX prices narrowed to $95-99/tonne (€72-75/tonne) in the middle of February, lower than the $116/tonne spread in the beginning of the month.
A minimum spread of $120-150/tonne is must to break even.
Some downstream polyester makers in
Zhejiang Yisheng’s other two
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