China’s Guoxiandao shuts Shaoxing polyester lines on weak demand
08 March 2012 04:00 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>China’s Zhejiang Guxiandao Industrial Fiber has shut its three polyester lines at Shaoxing on 7 March because of poor demand, a company source said on Thursday.
The three lines in Zhejiang province with a combined capacity of 200,000 tonnes/year, mainly produce polyethylene terephthalate (PET) chips, including semi-dull PET chips and bright PET chips, the source said.
The company’s PET inventory is currently above 10,000 tonnes, the source said.
“The market is too bad and we had to shut those lines to decrease our inventory. We will restart them once the market becomes better,” he said.By: Sunny Chen
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