29 January 2009 17:21 [Source: ICIS news]
LONDON (ICIS news)--INEOS Polyolefins’ 140,000 tonne/year LDPE plant in Bamble, Norway, was fully back up this week after being brought to a halt after a fire at its associated cracker at Rafnes on Wednesday 14 January, a company source said on Thursday.
LDPE prices were firm at €720-730/tonne ($947-961/tonne) FD (free delivered) NWE (northwest ?xml:namespace>
Producers were targeting higher prices in February, based on the €70/tonne increase in the February ethylene contract price. The month was settled at €590/tonne FD NWE.
Several sellers reported that they were sold out of LDPE.
December PE demand was far stronger than most sellers had expected. After very poor volumes in October and November, LDPE prices crashed and buyers came back into the market to procure material at knock-down prices. January demand continued to be strong.
Producers’ inventories were very low and several said that they intended to keep them that way.
LyondellBasell reported that it was halting LDPE production at its 180,000 tonne/year
PE producers in
($1 = €0.76)
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