Asian PTA weakens on further polyester cuts,export issues

摘要

Singapore-Asian PTA sentiment has weakened on anticipation of further production cutbacks at derivative plants in China due to export issues,and to a lesser extent,the existing power shortage problem in East China,according to market sources.Twenty-two major polyester plants in East China,namely Zhejiang and Jiangsu,with capacity totaling 7-mil mt/yr,representing about 40% of the total Chinese market,have agreed to further reduce operating rates.