Short-term price boost

As for Petronas Chemicals Group Bhd (PCG), the short-term outlook for the group in the third quarter has also improved, thanks to higher polyethylene, monoethylene glycol and methanol selling prices.

PETALING JAYA: Petrochemical prices are expected to remain strong until the end of the third quarter of the year, which will be good news for local petrochemical companies in the short term.

However, the rise in selling prices is forecast to dissipate in the subsequent quarters, due to the introduction of new capacities that will lift available supply.