07 November 2012 08:47 [Source: ICIS news]
SINGAPORE (ICIS)--Iran has announced on Wednesday the exemption of certain petrochemicals like polyethylene (PE) from its proposed export ban, a source from state-owned Petrochemical Commercial Co (PCC) said.
Polyvinyl chloride (PVC), styrene monomer (SM), benzene, caustic soda, melamine and linear alkyl benzene (LAB) will also be taken out of the list of commodities on which the ban will apply, the source said, citing an official announcement from the Iran government on 7 November.
The Iranian customs is expected to receive the official letter from the government by 10 November to allow exports of the ban-exempt petrochemicals to resume.
“It doesn’t make sense that PE exports are banned. We are a major seller to Asia. Our market share will be severely affected if the ban continues,” the PCC source said.
A UAE-based polymer trader said: “We have just received the news as well. So, now it is a matter of time when the [Iranian] customs will resume the clearance of the exports again.”
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