- China’s polyester sector discusses more run cuts- Fuhaichuang closes PTA lines
to plan maintenance





Asian paraxylene fell $53.25-58.50/mt on
July 8, at $1,139-1,175/mt CFR Unv1/China July 12. This was due to the
bearishness of downstream polyester amid talk about further production capacity
reductions. China's downstream PTA market is
still weak, and there is little interest in buying from the factories producing
polyester. One Chinese source said that end-users mainly
consume raw material inventory to fulfill new orders, and don't want to restock. Sources said
that further run cuts of 10% were expected by China's polyester producers due
to the high level of inventory. This follows cuts of 20% at some producers
previously. China's September PTA futures, which are the
most traded, fell 4.90% between July 8 and Yuan 5,866-6,000/mt. Despite the
volatility downstream, trade...