Japan's Mizushima extends PTA shutdown on margins, soft demand

23 February 2012 04:07  [Source: ICIS news]

SINGAPORE (ICIS)--Japan’s Mizushima Aromatics has decided to extend the ongoing shutdown at its 255,000 tonne/year purified terephthalic acid (PTA) plant at Mizushima to late March, a company source said on Thursday.

The annual turnaround, which started on 6 February, was originally planned for one month, but has now been extended to 19 March because of eroding margins and soft demand from the downstream polyethylene terephthalate (PET) bottle and film chip market in Japan, the source said.

Asia’s PTA prices declined to $1,175-1,196/tonne (€893-909/tonne) CFR (cost & freight) China Main Port (CMP) in the week ending 17 February, down by $12-15/tonne from early February because of a slow demand recovery in the downstream polyester sector after the Lunar New Year holiday, according to ICIS pricing.

Mizushima Aromatics is a joint venture between Mitsubishi Gas Chemical (MGC) and Toyobo.

($1 = €0.76)

By: Becky Zhang
+65 6780 4359

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