21 August 2008 05:00 [Source: ICIS news]
SINGAPORE (ICIS news)--South Korean polypropylene (PP) producer Polymirae is considering cutting production in response to weak Asian demand, sources close to the company said on Thursday.
“Polymirae is expected to cut production by the end of this week,” one of the sources said, adding that the extent of the reduction was not known yet.
Polymirae runs a 630,000 tonne/year plant at Yeosu.
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It is unclear if YNCC’s recent cracker cutbacks are related to the PP maker's decision to mull production cuts.
GS Caltex was running its 180,000 tonne/year PP plant at Yeosu at normal rates but it was concerned that its inventories would rise to critically high levels if demand did not pick up, a company source said.
“Our inventories are now about 10% higher (than the typical levels) but it is not critical yet,” the source said.
Other PP producers in
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