19 May 2006 07:06 [Source: ICIS news]
RIYADH (ICIS news)--Qatar Petrochemical Co (Qapco), the Middle East’s largest low-density polyethylene (ldPE) producer, plans to raise June offers for the East Mediterranean (East Med) by almost 4% compared to May, a company source said on Friday.
The company plans to increase prices by $40-50/tonne $1,360-1,370/tonne CFR due to tight supply, he added.
LdPE prices in the region have already touched a one-year high of $1,320-1,350/tonne. The last time prices were around this level in the East Med was in May 2005, when business was concluded at $1,310-1,360/tonne CFR.
The source said Qapco had sold cargoes to ?xml:namespace>
Qapco plans to raise its ldPE offers for the Gulf Cooperation region (GCC) by $20/tonne for June from the current levels of $1,280-1,300/tonne CFR, the source said.
Supply was expected to remain tight in the Middle East, with
Qapco has two plants, each with a capacity of 180,000 tonne/year, at
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