S Korea’s Polymirae to raise Yeosu PP rate to 75%

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) China for the week ended 21 November, $80/tonne higher from the previous week, according to global chemical market intelligence service ICIS pricing.

 

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By: Chow Bee Lin
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