On Tuesday at 10:51 AM (Bangkok time), the share price of IRPC Public Company Limited (SET: IRPC) increased by 0.93% or THB 0.01 to THB 1.08, with a trading value of THB 73.05 million.
PTT Global Chemical Public Company Limited (SET: PTTGC) jumped by 4.76% or THB 1.25 to THB 27.50, with a trading value of THB 233.31 million.
Indorama Ventures Public Company Limited (SET: IVL) surged by 2.29% or THB 0.50 to THB 22.30, with a trading value of THB 206.74 million.
InnovestX Securities noted that Japan’s three major petrochemical producers—Asahi Kasei, Mitsui Chemicals, and Mitsubishi Chemical—have announced plans to reduce ethylene (C2) cracker production by 2030 as part of process improvements.
This move is expected to tighten supply in the global market and provide positive momentum for the overall petrochemical sector, following a similar production cutback previously implemented by South Korean producers.
Additionally, prospects for the industry have been buoyed by a newly announced strategic partnership between India and China, which could spur further demand growth in these key markets. Coupled with ongoing economic stimulus measures in both China and India, these developments are seen as supportive for petrochemical stocks with significant global exposure.
