SINGAPORE (ICIS)--Taiwan’s Formosa Chemicals & Fibre Corp (FCFC) has shut its 1.2m tonne/year purified terepthalic acid (PTA) plant in Ningbo for its scheduled maintenance, a company source said on Wednesday.
The unit was closed as scheduled on 25 March, and the shutdown is expected to last for about 20 days, the source added.
The spot prices of PTA have been on an uptrend, largely due to the lower operating rates at PTA facilities in China, several market participants said.
China’s Hengli Petrochemical has shut down its 2.2m tonne/year No 2 PTA unit at Dalian, while Yisheng Petrochemical will likely maintain low operating rates at their facilities till April.
On 25 March, PTA prices increased by $4-9/tonne day-on-day to $889-892/tonne CFR (cost & freight) China Main Port, according to ICIS data.