Chinese market players informed SSESSMENTS.COM that local producers in the country have adjusted operating rate to prevent the build-up of PTA inventories. Due to the coronavirus outbreak, China market has not fully resumed yet. The uncertainty when deliveries will resume, labour shortage, logistical constraints, and the uncertainty when downstream polyester plants will increase operating rates cited as several factors behind the producers’ decision to adjust the operating rates.
Based on the data collected by SSESSMENTS.COM, Jiangyin Hanbang has shut the company’s 600,000 tons/year PTA unit no.1. The plant located in Jiangsu province was shut since early of last week. Meanwhile, Chongqing Pengwei has lowered operating rate at the producer’s 900,000 tons/year PTA unit located in Chongqing to 60%. Likewise, Fujian Fuhua reduced the operating rates to 70% at the company’s 900,000 tons/year PTA unit.
Tags: Asia Pacific,China,English,EN PET CHINA NSS,EN PTA China NSS,NewsSSESSMENTS,Northeast Asia,PlantsSSESSMENTS,Polyethylene Terephthalate (PET),PTA & DMT Chinese PTA Producers,operating rates,PTAFebruary 12, 2020 10:25 AM