23 November 2012 06:48 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Tuntex Petrochemical expects to restart its 440,000 tonne/year purified terephthalic acid (PTA) unit at Taoyuan on 24-25 November following a turnaround, a company source said on Friday.
The plant was shut on 23 October for a month-long maintenance because of poor market conditions, the source said.
“We will keep the unit at relatively low operating rate after the restart as margins remain poor,” the source said.
Asia’s PTA spot prices were discussed at $1,100-1,110/tonne (€858-856/tonne) CFR (cost & freight) China Main Port (CMP) on 23 November, according to ICIS.
The spread between PTA cost and spot prices was around $65/tonne, well below a normal variable cost of around $130-150/tonne, ICIS data showed.
($1 = €0.78)
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