Thailand’s PTTGC reports sharp decline in Q3 profit
Lower crude oil prices pulled down the refinery margins in spite of strong operating rates while a weaker baht against the US dollar also resulted in a THB2.14 billion ($59.5 million) loss due to PTTGC’S debt of around $1 billion.
However, some analysts report that they expect to see some improvement in the company’s net profit in the fourth quarter in line with improved oil prices and stronger seasonal demand.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Firming PP trend falters in China’s local market
- European players question if bottom is near for PE
- Asian ABS players turn cautious after recent rally
- July PVC dealt lower in Europe, what lies ahead for August?
- China’s Jan-May total polymer imports hit a record of nearly two decades
- India’s local PVC market soars to 6-month high after customs hike
- China’s export PET market faces correction after rising 10% from two-year-low
- Spot propylene moves in opposite directions in Asia and Europe
- European PS hits year-to-date low on July drops
- Turkey’s PP market on par with China, LLDPE and HDPE trade at discount