06 August 2013 10:41 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Plastics Corp (FPC) restarted its polypropylene (PP) plant at Ningbo in China’s Zhejiang province on 4 August, company sources said on Tuesday.
The 170,000 tonne/year plant, which was taken off line on 1 July, is producing PP injection grade, the source added.
Local distributors said the restart will result in an increased supply of the material though the impact on the spot market will not be evident this week.
PP injection grade prices were assessed at yuan (CNY) 11,200-11,450/tonne ($1,827-1,868/tonne) in eastern China on 6 August, CNY50/tonne higher than 5 August, according to Chemease, an ICIS service in China.
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