S Korea petchem exports set to rise 10% in 2008
29 May 2008 08:02 [Source: ICIS news]
SINGAPORE (ICIS news)--South Korean petrochemicals exports are expected to rise a marginal 9.7% in 2008 as compared to 2007 due to stagnating unit prices amid large-scale plant expansions in the Middle East and Asia, the Korea Petrochemical Industry Association (KPIA) said.
Exports in 2008 were expected to hit $31.6bn (€20.2bn), KPIA added in a statement during the Asia Petrochemical Industry Conference (APIC), which concluded on 28 May.
KPIA also said that the country would have to learn to deal with challenges such as increased capacities in the Middle East as well as greater self-sufficiency in China, both of which had already impacted the market negatively and would continue to threaten the industry in the near future.
($1 = €0.64)
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Author: Brian Myung65 6780 4359
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