ROSY OUTLOOK: From ethylene glycol to copper foil, PTA and PVC, the Formosa Plastics Group’s three main units look set to benefit from continued price increases

Taipei Times
Date: Mar 07, 2018
By: Kuo Chia-erh  /  Staff reporter

Formosa Plastics Group (台塑集團), the nation’s largest industrial conglomerate, yesterday gave a positive outlook for next quarter, as its main product prices are likely to remain relatively high due to healthy demand.

“The price of ethylene glycol is expected to hover at high levels [in the coming months], despite short-term fluctuations,” Nan Ya Plastics Corp (南亞塑膠) chairman Wu Chia-chau (吳嘉昭) said at a news conference in Taipei, citing low inventories in major markets.

Nan Ya’s second-quarter sales would expand at a faster pace than the first quarter, he said, adding that copper foil prices should continue to advance on the back of growing Chinese demand for new energy vehicles.

Echoing Wu’s remarks, Formosa Chemicals & Fibre Corp (台灣化學纖維) said that an uptrend in purified terephthalic acid (PTA) prices would continue to lend support to the company’s revenue growth.    [FULL  STORY]