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Major Chinese PTA manufacturers see dip in inventories
24
Nov '12
The purified terephthalic acid (PTA) plant of BP Zhuhai with a production capacity of 1.7 million tons per year is operating normally at present. Entire output is being supplied to contract users. Recent sales are fair and factory stock is currently at low level.
 
BP Zhuhai implemented its October PTA contract futures at 8,650 yuan/ton and its listing price for November PTA contracts is 8,900 yuan/ton.
 
The PTA plant of Yisheng Petrochemical too is operating normally and all its output is being supplied to contract users. Sales at this plant are also fair and inventory has reduced to low level. However, its No. 2 plant with a capacity of 360,000 tons/year is shutdown for maintenance.
 
Yisheng implemented its settlement price for October PTA contract futures at 8,650 yuan/ton and its listing price for November PTA contracts is being implemented at 8,700 yuan/ton.
 
Meanwhile, the PTA plant under Shanghai Oriental Petrochemical with a production capacity of 700,000 tons/year has been shut down for maintenance for a week. All its production is being supplied to contract users and recent sales are fair. PTA stocks are normal.
 
Shanghai Oriental implemented its settlement price for October PTA contract futures at 8,650 yuan/ton, and is also implementing its listing price for November PTA contracts at the same level.
 

Fibre2fashion News Desk - China

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