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From the chart above, we can see that after two expansion cycles in 2008-2009 and 2011-2014, PX capacity has entered the third peak expansion cycle starting from 2019. If we make a comparison, we can find that the new round of capacity expansion is quite similar to that in 2008-2010, in that PX capa
The increase in domestic capacity has elbowed out some imports. China’s PX imports see year-on-year drop since this May.Asian PX plant operating rate is still high without large cuts, as producers intend to maintain market shares and PX-naphtha spread hovers around break-even line. However, new plan
