12 April 2013 08:28 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Chemical & Fibre Corp (FCFC) plans to shut its 550,000 tonne/year No 1 purified terephthalic acid (PTA) unit at Mailiao in mid-April because of squeezed margins, a company source said on Friday.
The shutdown is expected to last at least until the end of April, the source said.
FCFC will then decide further shutdown plans according to the market situation, he added.
Asia’s spot PTA prices increased to $1,060-1,070/tonne (€806-813/tonne) CFR (cost & freight) China Main Port (CMP) towards the close of the week, up by $15/tonne from a week ago, while feedstock paraxylene (PX) prices jumped by $75-80/tonne week on week to $1,535-1,545/tonne CFR CMP on 11 April, according to ICIS.
($1 = €0.76)
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