Skip to main content

LOTCHEM: PTA production may suffer as govt refuses to import Paraxylene

Govt has rejected to grant a one-time exemption to Lotte Chemical Pakistan Ltd (LOTCHEM) to import Paraxylene from India.

According to the research note by Sherman Securities, LOTCHEM had asked permission for import of 40,000 MT paraxylene with a supply agreement of 140,000 MT from Reliance (India), out of which 82,500 MT has already been imported.

It is pertinent to mention that LOTCHEM imports Paraxylene, a liquid chemical used as a feedstock in the manufacture of Purified Terephthalic Acid (PTA) which is not domestically produced. Therefore, it is expected that PTA production may fall by 60,000 MT, the research added.

As a matter of fact, PTA is a base raw material for textile and packaging industries and LOTCHEM is the supplier of PTA.

Mettisglobal.news


اطلاع ہے کہ اب سری لنکا سے منگوایا جائے گا جو انڈیا کہ مقابلے سستا پڑنا۔




Labels:

Comments

Post a Comment

Popular posts from this blog

State Bank of Pakistan issued new instructions over the Interest Rates and Deposit Rates

Post a Comment
Read more

SECP Links Short Selling With Uptick Rule in Futures Market

In the wake of COVID-19 and its unprecedented effect on global stock markets, the Securities and Exchange Commission of Pakistan  in consultation with market stakeholders and market infrastructure institutions, has decided that for the April 2020 contract, a short sale in 36 specific shares of the futures market shall be subject to an uptick rule. This will ensure the provision of a required prior notice period to the market and retain liquidity in the rollover week. The uptick rule means that the shares of that relevant scrip have to be sold at a price higher than the last trade not lower. Further, to support the mutual fund industry, the maximum period of borrowing by mutual funds for redemption purposes will be extended from existing 90 days to 360 days. Moreover, the commission has allowed relaxing deposit requirements against the base minimum capital of TREC holders. The requirement to perform biometric verification at the time of opening of the account is eased and ...
Post a Comment
Read more