SK Networks shuts one Shantou PS line

14 March 2007 10:13  [Source: ICIS news]

SINGAPORE (ICIS news)--South Korea's SK Networks has shut one line at its Chinese polystyrene unit on weak demand for the resin, market sources said on Wednesday.

 

The unit, located in Shantou, southern China, has three lines of 50,000 tonnes/year each with a total ouput of 150,000 tonnes/year.

 

It has ramped up production gradually from January this year and reached optimal output after the Chinese New Year in late February.

 

Prices of general-purpose (GP) polystyrene (PS) fluctuated  between $1,360-1,400/tonne (€1033-1064/tonne) CFR (cost and freight) Hong Kong while high-impact grades were around $1,400-1,440/tonne CFR Hong Kong in February and March, according to global chemical market intelligence service ICIS pricing. 

 

($1=€0.76)

By: Clive Ong
+65 6780 4359

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