Update: Vietnam’s Nghi Son restored plant utilization rates at PP unit
Nghi Son Refinery and Petrochemical has significantly increased operating rates at its sole PP plant in Vietnam, following a reduction in early September due to weak production margins, according to market sources.
Nghi Son Refinery and Petrochemical has significantly increased operating rates at its sole PP plant in Vietnam, following a reduction in early September due to weak production margins, according to market sources.
The 370,000 tons per year PP facility is now operating at an elevated 120% capacity, despite previous concerns over profitability.
In parallel, the company has initiated a spot sale of on-spec polypropylene (PP), offering 8,000 tons of material for delivery between October 5 and 30 this year. The timing and scale of this offering may indicate a strategic response to changing market dynamics and an effort to capitalize on short-term opportunities.
Written by: Derek Yong