Chinese PET producer: New capacities to come online in Q2
According to him, China’s Hualun is planning to start up their 300,000 tons/year PET plant in the April-June period while Sanfangxiang’s new PET plant is slated to come online within the same term. The plant will be able to produce 300,000 tons/year of PET. "China is to add a total of 2.5 million tons/year of new PET capacities in 2017," he said.
“No supply issues are currently reported in China. Despite the fact that we struggle to compete with Indian and South Korean offers in the export markets, we kept our prices stable from last week given firm upstream costs. We mostly prefer to sell to the local market which offers better margins,” commented the source.
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