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Chinese PET plants cut operating rate on weak demandChinese PET plants cut operating rate on weak demand |
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Market sources reported that couple of major PET makers in eastern China has reduced their operation rate in respond to sluggish demand condition.
Both Jiangsu Xingye Plastic Co Ltd (JADE) and Zhejiang Wankai New Materials Co Ltd reportedly slashed operating rates from around 65% on January 6 to 50% on January 20, industries sources said.
Based in eastern China, Jiangsu Xingye Plastic Co Ltd (JADE) is able to produce 1.2 million tons/year of PET while Zhejiang Wankai New Materials Co Ltd can produce 650,000 tons/year.
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