China’s Chongqing Pengwei Petrochemical shuts PTA unit

28 June 2013 07:43  [Source: ICIS news]

SINGAPORE (ICIS)--China's Chongqing Pengwei Petrochemical has shut its 900,000 tonne/year purified terephthalic acid (PTA) unit at Fuling in Sichuan province on 27-28 June, a source close to the company said on Friday.

The unit may remain shut for a long period, because of the rising prices of feedstock paraxylene (PX) and a downtrend in PTA prices, which may cause a loss in the second half of 2013, the source said.

This unit was restarted on 4 May after being shut since early February because of poor margin and insufficient feedstock supply.

The company made some profit from the unit during May and June because of low feedstock cost and stable PTA prices, the source said.

By: Thompson Qian

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