Far Eastern New Century cuts runs at Shanghai PET plant to 85% as demand ebbs

摘要

Singapore— Far Eastern New Century has cut runs at its 600,000 mt/year polyethylene terephthalate lines in China’s Shanghai to 85% capacity, as margins narrow given demand has ebbed off from its earlier seasonal high, a company source said Wednesday. The company has lowered its run rates since early August, from full capacity previously, the source added. “We will keep PET inventory as low as possible amid off-peak season,” the source said.