State-owned Indian Oil Corp. expects to start its new 700,000 mt/year polypropylene unit in Paradip on the east coast of India by June, with commercial production expected by the end of this year, a company source said Tuesday.
IOC has an existing 650,000 mt/year PP plant in Panipat, Haryana.
Market sources expect import volumes to decrease following the new startup.
As of Tuesday morning, the prices were heard traded at $1,200-1,210/mt CFR Far East Asia, largely stable from the day before.
–Heng Hui, hui.heng@spglobal.com
–Edited by Pankti Mehta, pankti.mehta@spglobal.com
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