14 March 2013 08:07 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Yisheng Petrochemical plans to restart its 3.3m tonne/year No 2 purified terephthalic acid (PTA) unit in Dalian in mid-March after keeping it off line for around 10 days, a company source said on Thursday.
“We will restart the unit, but will only operate it at around 50% capacity because of the persistent poor market situation,” the source said.
The producer shut the No 2 PTA unit and its 2.5m tonne/year No 1 PTA unit at the same site on 6-7 March, because of its high inventory level and squeezed margins, the source added.
The company subsequently restarted its 2m tonne/year PTA unit in Hainan on 10-11 March to compensate for the production loss of 5.8m tonnes/year of capacity in Dalian, the source said.
The current operating rates at the PTA plant in Hainan is estimated at 30-40% capacity, the source added.
Yisheng Petrochemical has no plans to restart its No 1 PTA unit in Dalian in the near term, according to the source.
Yisheng operates three other PTA units at Ningbo in Zhejiang province. The 650,000 tonne/year No 1 PTA unit was shut since mid-February because of weak demand, while the 650,000 tonne/year No 2 and 2m tonne/year No 3 PTA units are operating at around 90% capacity.
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