03 January 2008 17:06 [Source: ICIS news]
LONDON (ICIS news)--SABIC's polypropylene (PP) production at Gelsenkirchen, Germany, was now running normally after disruption which led to both lines going down for two weeks, a company source said on Thursday.
The smaller plant of 130,000 tonnes/year failed in early December, and the second larger, 330,000 tonne/year line went down on Wednesday 19 December.
The lines came back separately and were both fully back up by 1 January, the source said.
“Our stocks are very low after this shutdown and we are confident of lifting prices this month,” the source commented.
SABIC (Saudi Basic Industries Corp) has announced a €75/tonne ($110/tonne) increase for January, along with similar announcements from other European PP producers who aimed to cover the €57/tonne hike in first quarter propylene.
Homopolymer injection was trading in the mid-€1,200's/tonne FD (free delivered) NWE (northwest Europe) on a gross basis in December, according to global chemical market intelligence service ICIS pricing.
January business was not yet under way.
($1 = €0.68)
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