28 January 2011 04:41 [Source: ICIS news]
SINGAPORE (ICIS)--India’s Supreme Petrochem has sharply cut its polystyrene (PS) export availability on the back of the reduced production rate at its 272,000 tonne/year PS facility at Nagothane near Mumbai, a company source said on Friday.
“The operating rate at our PS plant has been reduced to 70% from 100% due to a mechanical problem and efforts are on to resolve it,” the source said.
However, the source did not disclose details of its current export availability. Another company source said there was adequate supply to meet domestic demand.
Demand for PS has been picking up recently in India, with the advent of the peak demand season for the manufacture of household appliances, television sets and refrigerators.
PS prices in India were hiked in early January by rupee (Rs) 6/kg (13 cents/kg) for general-purpose PS (GPPS) to Rs76/kg EXW (ex-works) and by Rs5/kg for high-impact PS (HIPS) to Rs84/kg EXW on the back of high feedstock styrene values, ICIS data showed.
($1 = Rs45.67)
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