06 August 2013 09:19 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Shaoxing Yuandong Petrochemical shut its 600,000 tonne/year No 2 purified terephthalic acid (PTA) unit in Zhejiang province on 5 August for scheduled maintenance, a company source said on Tuesday.
The turnaround at the PTA unit will last for around one month, the source added.
“Whether we restart the unit after maintenance works are done will depend on the [market] condition in the feedstock paraxylene (PX) sectors,” the source said.
Prices in the PX markets have been increasing at a faster pace compared with that of PTA and this have resulted in mounting costs for PTA suppliers, said several market participants.
PX prices in Asia increased by $30/tonne (€22/tonne) from 30 July to $1,493-1,498/tonne CFR (cost & freight) Taiwan and/or China on 5 August, according to ICIS data.
Meanwhile, PTA prices increased by $20-26/tonne to $1,110-1,120/tonne CFR China in the same period, ICIS data showed.
($1 = €0.75)
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