12 March 2012 10:12 [Source: ICIS news]
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SEOUL (ICIS)--Samsung Petrochemical will bring forward a turnaround at its 700,000 tonne/year purified terephthalic acid (PTA) facility in Daesan by more than two weeks to 24 March because of squeezed margins, a company source said on Monday.
The South Korean producer is planning to restart the facility in the fourth week of April but may extend the shutdown if PTA margins do not recover, the source said.
Samsung Petrochemical initially planned to shut the facility for two weeks of maintenance in mid-April, according to the source.
PTA margins have been under pressure since the fourth quarter of 2011 because of rising feedstock paraxylene (PX) costs.
Spot PX prices were discussed at $1,650-1,660/tonne (€1,254-1,262/tonne) CFR (cost & freight) Taiwan and/or China Main Port (CMP) on 12 March, while PTA prices were at $1,180-1,195/tonne CFR CMP, ICIS data showed.
This means that PTA makers are incurring a loss of $41.50/tonne, based on a PX-PTA conversion cost of $120/tonne.
($1 = €0.76)
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