China’s Oriental Petrochemical shuts Shanghai PTA plant

26 November 2012 06:17  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Oriental Petrochemical (Shanghai) Corp shut its 700,000 tonne/year purified terephthalic acid (PTA) plant in Shanghai on 25 November for maintenance, a source close to the company said on Monday.

The turnaround will last for five days and the plant is expected to restart in this week, the source said, adding that it shut the plant also because the company is making losses.

The maintenance is not expected to have a huge impact on the spot or contractual supply of PTA.

Meanwhile, Oriental Petrochemical has settled its PTA contract price for November, at the same as Sinopec's contract price at CNY8,450/tonne ($1,356/tonne), a company source said.

($1 = CNY6.23)

By: Thompson Qian

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