07 May 2013 07:41 [Source: ICIS news]
SINGAPORE (ICIS)--China's Chongqing Pengwei Petrochemical restarted its 900,000 tonne/year purified terephthalic acid (PTA) unit at Fuling in Sichuan province on 4 May, a source close to the company said on Tuesday.
Pengwei Petrochemical has kept the PTA unit shut since early February because of poor margin and insufficient feedstock supply, the source added.
Details about the operating rate of the unit were not available, the source said, adding that the contractual supply situation is also unclear.
PTA producers are still facing a loss, and the spread between PTA and paraxylene (PX) has narrowed in early May, following some improvements seen in April.
PTA prices were at $1,046-1,050/tonne (€795-798/tonne) CFR (cost & freight) CMP (China Main Port) on 6 May, compared with the average price of $1,039/tonne CFR CMP in April, according to ICIS data.
PX prices were at $1,450/tonne CFR CMP on 6 May, compared with the average price of $1,465/tonne CFR CMP in April, according to ICIS data.
($1 = €0.76)
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