10 January 2011 22:35 [Source: ICIS news]
DUBAI (ICIS)--Polyethylene terephthalate (PET) producer JBF-RAK continues to run its plant at full capacity in Ras Al Khaimah in the United Arab Emirates - despite little buying activity in the spot market, a company source said on Monday.
The plant produces 1,000 tonnes/day of bottle-grade chips and 200 tonnes/day of film-grade chips.
"Although there is not much buying activity in the spot market now, producers remain optimistic that demand will return in the coming month as downstream converters and beverage producers have been keeping minimal stocks in the past three months," the source said.
The source made the comments on the sidelines of the 10th Arab International Plastics and Rubber Industry Trade Show and Conference.
JBF-RAK is a joint venture between JBF, a major polyester producer in India, and government-controlled Ras Al Khaimah Investment Authority (RAKIA).
The four-day 10th Arab International Plastics and Rubber Industry Trade Show and Conference in Dubai ends on Tuesday.
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