India Supreme to keep low styrenics output into third quarter

19 June 2014 10:41 Source:ICIS News

SINGAPORE (ICIS)--India’s Supreme Petrochem expects that output rates at its styrenic facilities will remain low into the third quarter amid sluggish demand in the local and export markets, according to a company source on Thursday.

The company operates a 272,000 tonne/year polystyrene (PS) facility in Mumbai and has expandable polystyrene (EPS) units in Mumbai and Chennai for a combined output of around 80,000 tonnes/year.

“Demand in the local market will improve gradually as policies from the new government takes time to filter through,” the source added.

Weak demand in China, as well as a slowdown in the Middle East ahead of the Ramadan, has curtailed resins exports of the company.

The other PS/EPS producer in the country is LG Polymer India.

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By Clive Ong