Philippines’ JG Summit to restart PE, PP units in end-May

22 May 2014 09:04  [Source: ICIS news]

SINGAPORE (ICIS)--Philippines’ JG Summit Petrochemical is looking to restart its polyethylene (PE) and polypropylene (PP) units in Batangas in end-May, a company source said on Thursday.

In March 2013, the 190,000 tonne/year polypropylene (PP) plant was shut for upgrading. Last year, the 210,000 tonne/year polyethylene (PE) plant was closed for expansion works.

The source added that the restart of the PE and PP units will be “at the same time” as the start-up of the naphtha cracker on 21-24 May.

Market buyers said they are expecting to receive PE and PP offers within the fortnight.

The source did not immediately verify this piece of information.

Domestic prices in the Philippines have been bolstered by the tight supply, given the scant offers of domestic cargoes.

Domestic PP flat yarn and injection prices were assessed at Philippine pesos (Ps) 42.00-43.00/lb ($0.96-0.98/lb) DEL (delivered) Manila during the week ended 16 May, according to ICIS data.

Domestic low density PE (LDPE) prices were at Ps41.50-42.00/lb DEL Manila, while linear low density PE (LLDPE) prices were at Ps40.00-42.00/lb DEL Manila and high density PE (HDPE) prices were at Ps39.00-42.00/lb DEL Manila during the same period, according to ICIS data.

($1 = Ps43.79)

By: Angeline Soh
+65 6780 4327

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