S Korea’s Lotte Chem keeps No 2 PTA unit shut on squeezed margins

10 April 2013 11:03  [Source: ICIS news]

SEOUL (ICIS)--South Korea’s Lotte Chemical Corp plans to keep its 400,000 tonne/year No 2 purified terephthalic acid (PTA) unit in Ulsan shut because its margins are squeezed, a company source said on Friday.

The No 2 PTA unit was shut on 7 February because of weak demand and was originally scheduled to be restarted in end-March, but the shutdown was extended.

Lotte Chemical has no firm restart date in mind as yet and it will depend on market conditions, according to the source.

The company’s 200,000 tonne/year No 1 purified isophthlaic acid (PIA) unit in Ulsan remains idle, with no definite restart date as well, he added.

The No 1 plant used to produce PTA, but was converted into a PIA unit in 2010.

By: Samuel Wong

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