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Asian Viewpoints

China PTA market trend

In China, purified terephthalic acid (PTA) prices are firm. Under this situation, average operation rates of PTA facilities are at a similar level to August. In September, some facilities entered turnaround or reduced operation rates. Meanwhile, other facilities restarted after completion of turnaround.

 

On the demand side, it is the demand season of polyester fibers, that use PTA as a feedstock, and facilities are operating at high rates. Operation rates of polyester facilities are at 87.2% on average, higher than the previous month. Demand for PTA strengthened and inventories decreased.

 

On the supply side, FCFC Ningbo, Dushan Energy, Hengli Petrochemical Huizhou and Fuhaichuang restarted operations of PTA facilities. On the other hand, Sanfangxiang, Ineos Zhuhai and Xinjiang Zhongtai reduced production or started turnaround.

 

In October onwards, Ineos Zhuhai (1.10mil mt/year) is scheduled to conduct turnaround. Hengli Petrochemical Dalian is expected to start turnaround on Oct 11. Dushan Energy (2.50 mil mt/year) is expected to conduct maintenance in November for about 15 days.

 

Under this situation, average operation rates of PTA facilities in October are not seen to change sharply from September. Views are heard that PTA prices might remain firm for the time being.

Shanghai : Kim Setsubai   +81-3-3552-2411Copyright © RIM Intelligence Co. ALL RIGHTS RESERVED.