06 June 2008 14:38 [Source: ICIS news]
LONDON (ICIS news)--SABIC has seen its best low density polyethylene (LDPE) demand in two years in June, a company source said on Friday.
“We are still only in the first few days of the month, but we are seeing our strongest offtake in 24 months,” the source reported.
LDPE prices were moving up fast for June as upstream costs have led to very low margins for polyethylene (PE) producers.
Increases up to €100/tonne ($156/tonne) were reported for June LDPE business, with the prospect of more to come in July. LDPE gross levels were now around €1,370/tonne FD (free delivered) NWE (northwest ?xml:namespace>
Brent crude was back up to $129.25/bbl on Friday, and naphtha had rallied back up to $1,045-1,050/tonne CIF (cost insurance freight) NWE.
PE production was reduced in
PE producers in
($1 = €0.64)
To discuss issues facing the chemicals industry visit ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|