Operating rate of paraxylene to be curtailed by Japan's Idemitsu Kosan

Owing to drifting paraxylene prices in Asia and extremely slim margins, Japan's no.3 oil refiner Idemitsu Kosan Co has decided to reduce the paraxylene production at its Chiba plant to 75% starting Sep 25 for two months. Of the plant's total paraxylene capacity of 265,000 tpa, the company will curtail the operating rate by 11,000 tpa due to lower Chinese demand post-Olympics and rapidly dipping paraxylene prices. However, the curtailment in operating rate in its Chiba plant is not slated to affect the production runs at its 214,000 tpa Tokuyama plant in western Japan and the two ethylene plants. The unit at Tokuyama plant is slated to go for a planned two-month maintenance shut down from Sep 25.
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