01 November 2011 02:21 [Source: ICIS news]
SINGAPORE (ICIS)--Korea Petrochemical Industry Co (KPIC) has cut production at its 530,000 tonne/year high density polyethylene (HDPE) and 470,000 tonne/year polypropylene (PP) plants at Onsan by 5-10% because of squeezed margins, a company source said on Tuesday.
The producer will run the HDPE lines at 95% and the PP lines at 90% in November, the source said.
KPIC will monitor the market and decide in the second half of November if it will maintain the reduced operating rates in December, he said.
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