18 January 2007 13:48 [Source: ICIS news]
LONDON (ICIS news)--Plastics futures prices rose on the London Metal Exchange on Thursday as crude values rebounded.
The official linear low density polyethylene (LLDPE) price gained $5 to $1,105/tonne but March and April offer prices were lower.
February, March and April polypropylene (PP) prices were higher with the offical price up $5 at $1,135/tonne.
LLDPE had closed down $20 at $1,090/tonne on Wednesday and PP unchanged at $1,120/tonne.
A total of 266 lots of LLDPE and 66 lots of PP traded on Wednesday according to broker reports.
Crude futures were higher in Asia on Thursday and marginally higher in
On the physical markets, traders said that PE and PP prices in the Middle East and
PP prices had risen by $50/tonne in the same period to $1,330-1,430/tonne CFR (cost and freight)
In northeast (NE) and southeast (SE) Asia, however, PE and PP prices have been sliding on falling oil prices and buyers’ unwillingness to build up stocks ahead of the Chinese New Year holidays in mid-February, traders said.
In Europe, INEOS Polyolefins said it would invest more than €150m ($193m) in its European assets during the next three years, lifting PP and high density polyethylene (HDPE) capacities at sites in
|LME Reference Price||1105||1135|
|April -07||1095|| |
Prices shown are per tonne on a FOT (free on truck) basis delivered Rotterdam/Antwerp,
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