25 November 2008 03:28 [Source: ICIS news]
SINGAPORE (ICIS news)--South Korea's polypropylene (PP) producer Polymirae plans to raise production at its Yeosu facility to 75% on Wednesday, following last week’s price rebound, a company source said on Tuesday.
“Market sentiment has improved and buying enquiries have increased,” the source said.
The facility consisting of four PP lines with a 600,000 tonne/year combined capacity were currently running at 50% on average, and it was unlikely to resume 100% production this year as demand has shrunk due to the global economic downturn, he said.
The facility was running at 60% on average prior to shutting down two weeks ago due to poor demand.
The benchmark PP injection and yarn grades were assessed at $700-750/tonne CFR (cost and freight) ?xml:namespace>
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