07 February 2013 03:13 [Source: ICIS news]
SINGAPORE (ICIS)--China's Chongqing Pengwei Petrochemical plans to keep its 900,000 tonne/year purified terephthalic acid (PTA) plant at Fuling in Sichuan province off line throughout February, a source close to the company said on Thursday.
The PTA plant was shut in early February and will remain off line for at least one month, the source said, but added that the producer has not set a restart date.
Chongqing Pengwei suffered squeezed margins since July last year and its PTA plants were under maintenance for nearly one-third of the year, because of a lack of feedstock paraxylene supply, a market source said.
The producer may raise its PTA plant operating rates if its margins increase in 2013, the market source added.
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