PVC Malaysia to shut 150,000 tonne/year plant on sluggish market

05 October 2011 11:31  [Source: ICIS news]

SINGAPORE (ICIS)--PVC Malaysia is considering shutting its 150,000 tonne/year polyvinyl chloride (PVC) plant at Kerteh in Terrenganu state within this week, a source close to the company said on Wednesday.

The producer is facing mounting inventory pressure on the back of lacklustre PVC demand, the source said.

The PVC unit is currently operating at low rates of 20-30%, the source said.

If the shutdown plan pushes through, the facility will be kept off line until market situation improves, the source said.

PVC prices were last assessed by ICIS at $940-950/tonne (€705-713/tonne) CFR (cost and freight) SE (southeast) Asia on 30 September, down by $40-50/tonne from the previous week, according to ICIS.

PVC Malaysia is a subsidiary of Malaysia’s state-owned firm, PETRONAS.

($1 = €0.75)

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By: Feliana Widjaja

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