China’s Xianglu Petrochemical shuts PTA unit on mechanical issue

24 May 2013 05:59  [Source: ICIS news]

SINGAPORE (ICIS)--China's Xianglu Petrochemical on 24 May shut its 1.65m tonne/year purified terephthalic acid (PTA) unit at Xiamen in Fujian province, a source close to the company said on Friday.

The shutdown was due to a mechanical issue, the source said, adding that the producer was running the plant at above 90% capacity in May.

The maintenance will last for one week and may affect the producer’s contract supply, the source said.

Xianglu Petrochemical will announce its PTA contract price for May in the next few days, and it is expected to be around yuan (CNY) 8,100/tonne ($1,319/tonne), according to a few traders.

The spread between PTA and paraxylene (PX) prices widened in May, compared with that in April, according to data from Chemease, an ICIS service in China.

PX prices were at $1,395-1,398/tonne (€1,074-1,076/tonne) CFR (cost & freight) China Main Port (CMP), while PTA prices were at $1,045-1,050/tonne CFR CMP on 23 May, the data showed.

($1 = CNY6.14)

($1 = €0.77)

By: Thompson Qian

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