26 March 2013 08:44 [Source: ICIS news]
SINGAPORE (ICIS)--China's Sanfangxiang Group plans to shut its 1.2m tonne/year purified terephthalic acid (PTA) plant at Jiangyin, Jiangsu province, in the second half of April because of poor margins and weak demand, a company source said on Tuesday.
Sanfangxiang’s shutdown of the PTA plant may impact the production at its polyester plants, the source added, but there is still no specific shutdown plan for its polyester plants.
The PTA prices have fallen by yuan (CNY) 400/tonne ($64/tonne) since 1 March to CNY7,800/tonne on 25 March, with the PTA producers making losses, as weak demand from the downstream sector is weighing on the PTA market, according to Chemease, an ICIS service in China.
($1 = CNY6.21)
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