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Plant closures lend support to Chinese PTA spot price
17
Apr '12
In the just concluded week, PTA futures remained weak, due to poor demand from downstream enterprises. However, PTA spot prices were relatively strong.

In addition, some domestic plants have closed operations for maintenance in April, which has lent support to PTA spot market.

Currently, mainstream discussion in East China market remains about 8,700 Yuan / ton. PTA imported from Taiwan stood at US $1,163 / ton and for those from Korea was $1,155 / ton.

In the reporting week, Xianglu petrochemical (1.6 million tons), Zhuhai BP (600,000 tons) and Sanfangxiang (1.20 million tons) have shutdown for maintenance for a period of around 1-2 weeks.

Fibre2fashion News Desk - China

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