06 February 2009 14:05 [Source: ICIS news]
NEW DELHI (ICIS news)--Reliance Industries has restarted its 150,000 tonne/year high-density polyethylene (HDPE) plant at Gandhar, in the Indian state of Gujarat, after a two-week outage, a source close to the company said on Friday.
"Although it's a small plant, the shutdown has created a bit of panic in the market because buying activity has picked up quite strongly in the past two weeks," said the source, speaking on the sidelines of PlastIndia 2009, ?xml:namespace>
The plant was shut down two weeks ago due to technical reasons, a second source said.
The surge in buying activity prompted Indian producers to hike PE prices by 6% or Indian rupees (Rs) 3-3.5/kg (6-7 cents/kg) this week.
PlastIndia 2009, which is held every three years, started on 4 February and ends on 9 February.
($1 = Rs48.71)
To discuss issues facing the chemical industry go to 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|