12 February 2014 09:38 [Source: ICIS news]
SINGAPORE (ICIS)--Spot domestic polypropylene (PP) prices in Malaysia may stop rising on hopes of stable production at the country’s biggest PP plant to ease the current supply tightness in the market, market sources said on Wednesday.
Offers of February cargoes are being quoted at Malaysian ringgit (M$) 5.55-5.80/kg ($1,652-1,742/tonne), up from January prices at M$5.45-5.70/kg on a DEL (delivered) Malaysia basis.
In November 2013, PP prices were at M$5.13-5.25/kg DEL Malaysia.
“Offers are likely to stop increasing, if the production levels at Titan stabilises,” a Malaysia-based trader said in Mandarin on Wednesday.
Lotte Chemical Titan had conducted a one-day maintenance at its 200,000 tonne/year plant in Pasir Gudang on 5 February.
The plant has had unstable operations since the start of the year, according to market sources. ($1 = M$3.33)
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