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Thailand's IVL sold out spot polyethylene terephtalate for September

September 08/2011

(Platts) -- Thailand's Indorama Ventures, or IVL, has sold out spot polyethylene terephtalate for September, said a company source Wednesday, adding that its plants in Indonesia, Thailand, and China were operating at 100% of their capacities. "Demand has improved this week. We are only offering to some regular customers," said the source.


The company has a 180,000 mt/year plant in Lopburi, Thailand; a 86,400 mt/year plant in Tangerang, Indonesia; and a 276,000 mt/year plant in Guangdong, China.VL will start offering October cargoes from next week.


Following a two-week lull, sales in Southeast Asia have gone up, with two PET producers selling at least 1,000 mt of product each last week.


A source at another PET producer in Southeast Asia said customers were holding back on purchases due to relatively high PET prices over the past weeks, on high feedstock purified terephthalic acid prices.


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