SE Asian PP markets set for maintenance shutdowns in Q1
Currently, the import PP market is squeezed between sellers’ hike requests on one side and buyers’ ongoing resistance on the other side. Players stated that the upcoming maintenance shutdowns at regional plants are likely to contribute to sellers’ increase intentions. Within the regional markets, local PP prices are firming up with the depreciating currencies in addition to limited supplies.
According to a trader operating in Thailand, Siam Cement Group (SCG) shut its PP and LLDPE plants due to an unexpected technical glitch on January 9. SCG’s PP plant has a total production capacity of 720,000 tons/year while they are able to produce 120,000 tons/year of LLDPE.
A source close to Thailand’s IRPC reported that the producer is set to start a maintenance shutdown in February at its 310,000 tons/year PP plant as well as its cracker which is able to produce 312,000 tons/year of propylene. The shutdowns are expected to last for one month.
A third Thai producer HMC Polymers is also planning to shut its PP plant for maintenance at the end of January. HMC has a total PP production capacity of 750,000 tons/year.
When it comes to Indonesia, the local producer Polytama Propindo is planning to shut its 180,000 tons/year PP plant for maintenance by the end of January for around 20-30 days. Meanwhile, Pertamina is planning to shut its 230,000 tons/year propylene plant by the end of January.
Lastly, Malaysia’s Lotte Chemical Titan is planning to conduct a maintenance shutdown at its PP plant in March. The producer’s plant is able to produce 390,000 tons/year of PP.
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