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Views: 2 Author: Site Editor Publish Time: 2020-05-27 Origin: Site
2. Downstream PTA operating rate remains high with stale demand for PX
Spurred by good profits, China PTA plants were running at high operating rates. PTA-PX spread rebounded to 700yuan/mt in average to-date in Apr, new high since Nov 2019. The average PTA operating rate has also increased to above 90%.
The recovery in profit and the high operating rates contributed to a regular PX purchase pace. The cases of PTA plants cancelling contracts for PX earlier seen have reduced in Apr.