LDPE tightness continues for INEOS in Europe
16 August 2007 16:58 [Source: ICIS news]
LONDON (ICIS news)--INEOS Polyolefins still has two forces majeures in place on low density polyethylene (LDPE) in Europe, a company source said on Thursday.
In the latest incident, the company declared force majeure on LDPE deliveries from
INEOS Olefins had already imposed force majeure on its
Further problems led to the halt of production at the company’s larger KG cracker at the Grangemouth site in early August.
The cracker unit required immediate shutdown to allow remedial work to be carried out. This was expected to be completed by the end of August and restricted the availability of ethylene for toll production of LDPE in Carrington.
INEOS Polyolefins’ Cologne LDPE output in Germany was running normally but force majeure remained in place as stocks were low after the unexpected shutdown of one the sites’ two lines in early May.
The lines have a combined capacity of 350,000 tonnes/year, split more or less evenly between the two.
The affected line was down for over two months, from early May until July.
LDPE availability was restricted in Europe in August and prices have risen by €20-25/tonne, leaving gross monthly prices at €1,310-1,320/tonne ($1,770-1,784/tonne) FD (free delivered) NWE (northwest Europe), according to global chemical market intelligence service ICIS pricing.
($1 = €0.74)
By: Linda Naylor
+44 20 8652 3214
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