Spain's CEPSA Quimica delays PET shutdown until end of April

11 April 2013 18:42  [Source: ICIS news]

LONDON (ICIS)--Spain-based CEPSA Quimica’s polyethylene terephthalate (PET) site in San Roque has delayed its planned maintenance to the end of April instead of the beginning of the month, a company source said on Thursday.

No reason was given for the delay.

The shutdown at the 175,000 tonne/year site was originally due to start in March. Strong demand for PET from CEPSA Quimica in the first quarter and shutdowns at Spain's Novapet and La Seda de Barcelona's Artenius sites resulted in the first delay of a couple of weeks.

Artenius' 80,000 tonne/year PET plant in Greece remains shut down pending news regarding the companies' debt renegotiation.

Spain's Novapet shut down one of its PET lines in Barbastro, Spain, in order to prepare it for a more speciality-focused output.

European producers are managing to hold onto some margin so far in April due to reduced availability, following a fall in the price of upstream monthly paraxylene (PX) and an expected drop in the April monoethylene glycol (MEG) contract price.

Prices in Spain are unusually higher than in other regions because tight supply.

($1 = €0.77)

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By: Caroline Murray
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