China Resources starts up new PET unit at Changzhou on 19 April

20 April 2012 08:08  [Source: ICIS news]

SINGAPORE (ICIS)--China Resources Packaging has started its new 300,000 tonne/year polyethylene terephtalate (PET) bottle chip unit at Changzhou in Jiangsu province on 19 April, a company source said on Friday.

The producer’s remaining two PET units with the same capacity at Changzhou and Zhuhai respectively, will be brought on stream in late May, according to the source

The specific date for the start-up at the two units has not been finalised yet, the source added.

The country’s total PET bottle chip capacity will increase by nearly 20% after the three units come on line, according to Chemease, an ICIS service in China.

China’s current PET bottle chip capacity is estimated at 5.03m tones/year.

The spot prices of PET bottle chip in domestic market have been dropped because of the over-supply situation in April, a market player said.

Another PET producer Zhejiang Wankai, started up its 400,000 tonne/year polyethylene terephthalate (PET) continuous polymer unit on 11 March.

The spot prices of PET bottle chip were at yuan (CNY) 10,900-11,000/tonne ($1,727-1,743/tonne) DEL (delivered) on 19 April, a rise of CNY250-300/tonne from 1 April, Chemease data showed.

($1 = CNY6.31)

By: Thompson Qian

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