Dae Han Synthetics may restart PET bottle chip

15 November 2007 05:04  [Source: ICIS news]

SINGAPORE (ICIS news)--South Korea’s Dae Han Synthetics Fibre is considering restarting its moth-balled polyethylene terephthalate (PET) production lines next year, a company source said on Thursday.

“Demand for PET bottle chips in Korea is expected to increase next year and the company feels that it may be a good time to re-enter the market,” said the source from Dae Han.

He did not reveal exactly when the Ulsan facility would be restarted.

The plant, which has two production lines with an annual capacity of 140,000 tonnes of PET bottle chips, was shut down in June 2005.

Prices of PET bottle chips were assessed at $1,310-1,360/tonne (€890.80-924.80/tonne) FOB (free on board) Korea for the week to 9 November amid talk of firmer offers from producers and traders, according to global chemical markets intelligence service ICIS pricing.

Other major producers of PET bottle chips in Korea include KP Chemical and SK Chemicals.

($1 = €0.68)

By: Hong Chou Hui
+65 6780 4359

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