14 February 2008 16:06 [Source: ICIS news]
LONDON (ICIS news)--INEOS Polyolefins has declared force majeure on high density polyethylene (HDPE) supply from one of its units based in Lillo, Belgium following constrained production, a company source reported on Thursday.
This plant mainly produces HDPE grades for the blowmoulding markets, including industrial blowmoulding.
INEOS said in a statement that it was working hard to resolve the issue on the 250,000 tonne/year unit, and was liaising with customers to assist them through this period.
HDPE producers were targeting increases in February to recover the full €78/tonne ($113/tonne) increase in first quarter ethylene after increasing prices by €50-60/tonne in January.
Full February settlements were not yet confirmed.
($1 = €0.69)
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