19 April 2007 10:38 [Source: ICIS news]
“The market is tight and stocks are at a record low,” he said.
INEOS PO’s 200,000 tonne/year PP1 unit at Geel in ?xml:namespace>
“INEOS PO is a long-term player in
“Parts of the PP commodity market will commoditise more. This is one reason we are closing PP1. We want to be prepared as we move towards the bottom of the cycle,” he said.
The bottom of the cycle was not in sight for some time, however, as producers generally expected to be able to ride through 2007 and most of 2008 with little disturbance from new lower-cost capacity until 2010.
“The market expects further closures in time,” he said. “Big new capacity expansions in the Middle East are planned and they will come, but we do not expect any significant impact in
INEOS PO’s 300,000 tonne/year PP copolymer plant in Geel would continue operation, he added.
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