Bangkok, IRPC Product prices are expected to recover in 3Q24, with confidence that China will continue to launch economic stimulus plans. Revealed that they expect to negotiate and close business expansion deals within this year.Mr. Krit Imsaeng, Chief Executive Officer and President of IRPC Public Company Limited or IRPC, said that the lower IRPC share price is considered an unrealistically low price in terms of assets, believing that The future outlook also has a highlight: flexibility in production. At this time the investment is progressing. This year, the company will close large investment deals in the 3rd quarter of 2024 and believes this year's business trend Starting to see signs of recovery That will be clear from the 3rd quarter of 2024 onwards and will get the best from 2025 onwards.As for the 1st quarter of 2024, it is accepted that the world demand for plastic pellets is still low. It is affected by the Chinese economy. And in the world there are 3-4 new PP factories, so the company is mana ging costs by stopping production of 1 line of PP plastic pellets from January to mid-February. Resulting in a loss of approximately 20% of the total production capacity. From the original production of 54,000 tons per month, down to 42,000-44,000 tons per month.'IRPC will bounce back from the 3rd quarter of 2024 onwards due to increased product demand. Both oil and petrochemicals according to the economic recovery It is expected that China will continue to have measures to stimulate the economy. During the third quarter of this year, the company will close large investment deals. It is expected that income will be recorded immediately. It will help the company's operating results improve,' Mr. Krit said.In addition, the adjustment of the natural gas price structure in the Single Pool format resulted in a reduction in the cost of gas prices in IRPC's electricity production. and oil prices remain stable at 78-79 USD per barrel. As a result, the product price difference - cost or spread will be higher.At the same time, the company will increase the proportion of sales of special grade plastic pellets (Specialty Product) from 38% last year to 48% this year. The company has also set a strategy to invest in hospitals and health care businesses. (Health and Wellness) as well.Source: Thai News Agency