PP unit 2 of the hottest polyirae company in Janua

2022-09-30
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POLYMERAE's No.2 PP plant will resume operation in January because of the heat in the process of screw processing.

an official of POLYMERAE company in South Korea said on Monday that the company's No.2 PP plant with an annual output of 110000 tons will resume operation in early January, because the company expects the demand of China, its main export market, will recover at that time. Polyirae predicts that the price of PP cargo arriving in Hong Kong in January will rebound, because Chinese buyers may import goods with reduced tariffs at that time. On December 11, the Chinese government announced that the import tariff of PP Homopolymer would be reduced to 10%, and that of PP copolymer nonmetallic impact testing machine would be reduced to 12.8%, compared with the original tariff of 16% for both. The spot price of PP Homopolymer in North Asia has fallen from nearly $600/ton (CFR) in January to $430/ton (CFR) in mid December. In addition, the Spring Festival is another positive factor. The official said, "We think that January is a good opportunity to raise prices, because Chinese consumers will build up inventories in time for the Spring Festival. At present, POLYMERAE's PP units 1, 3 and 4 are overloaded, and the production capacity of each unit is 10000 tons/year.

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