LME Plastics: Dow and Kuwait's PIC in $11bn JV

13 December 2007 15:15  [Source: ICIS news]

LONDON (ICIS news)--Plastics futures prices from the London Metal Exchange are given in the table below. Further details and comparisons with price data published earlier are available directly from the Exchange. The LME site requires free user log-in.

 

LME Plastics: prices

 

Date:

Dec 13

 

 

 

 

PP

 

 

 

$ per tonne

Global

Asia

Europe

North America

Cash (B)

1,360

1,370

1,570

1,440

Cash (S)

1,375

1,380

1,590

1,470

Dec (B)

1,360

1,370

1,575

1,440

Dec (S)

1,375

1,380

1,600

1,470

Jan (B)

1,360

1,370

1,570

1,440

Jan (S)

1,375

1,380

1,610

1,470

 

 

 

 

 

 

LLDPE

 

 

 

 

Global

Asia

Europe

North America

Cash (B)

1,355

1,475

1,470

1,355

Cash (S)

1,375

1,495

1,490

1,375

Dec (B)

1,355

1,475

1,470

1,355

Dec (S)

1,375

1,495

1,490

1,375

Jan (B)

1,355

1,475

1,470

1,355

Jan (S)

1,375

1,495

1,490

1,375

 

B = Buyers

S = Sellers

 

In cash markets, Dow has decided to place its polyethylene, polypropylene and polycarbonate businesses in a joint venture with Kuwait’s Petrochemical Industries (PIC) in an $11bn (€7.5bn) joint venture.

 

Meanwhile, the Olefins II joint venture project of PIC and Dow Chemical is expected to start up commercially in August next year, a PIC company official said on Thursday.

 

Sinopec will cut 50,000 tonnes of ethylene production in December from five of its crackers to comply with a recent government directive to divert naphtha for gasoline usage, sources close to the company said on Thursday.


By: Staff Reporter
+44 20 8652 3214



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