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Fujian Baihong Petrochemical starts up new PTA line in China

January 26/2021

MOSCOW (MRC) -- Fujian Baihong Petrochemical started up its new purified terephthalic acid (PTA) line at Jinjiang, China on Jan. 21, reported S&P Global with reference to market sources.

The new line with the capacity of2.5 million mt/year of PTA is running at half of its capacity currently, market sources said.

Supply of PTA remains relatively tight outside of China, so Northeast Asian PTA producers have no interest in selling to China.

In India, market participants will watch out for the trend in freight this week as the Taiwan-India rate was reportedly slightly lower in the week ended Jan. 22; spot trades likely to remain muted.

As MRC informed previously, Hengli Petrochemical (Dalian) Co. Ltd. is expected to lead the global planned and announced purified terephthalic acid (PTA) capacity additions during the period 2019 to 2023, contributing around 22% of the global growth by 2023. Hengli Petrochemical (Dalian) Co. Ltd. is expected to add a capacity of 5.00 million tonnes per annum (mtpa) from two planned projects by 2023.

PTA is used to produce polyethylene terephthalate (PET), which is used in the manufacturing of plastic bottles, films, packaging containers, in the textile and food industries.

According to MRC's ScanPlast report, Russia's estimated PET consumption reached 61,110 tonnes in November 2020, up by 1% year on year. Overall PET consumption in Russia reached 648,110 tonnes in the eleven months of 2020, down by 18% year on year.
Author:Margaret Volkova
Tags:PET-granulate, terephthalic acid, packaging, Fujian, India, China, Russia, Taiwan.
Category:General News
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