18 February 2009 19:23 [Source: ICIS news]
HOUSTON (ICIS news)--Westlake Chemical plans to restart one of its ethylene units in Lake Charles, Louisiana by the end of the first quarter due to price increases in polyethylene (PE) and polyvinyl chloride (PVC), the Houston-based producer said in a conference call on Wednesday.
The plant has been idled since December due to falling demand.
“The operating rates in the fourth quarter were dismal,” said ?xml:namespace>
Chao pointed to the price increases in PE and PVC as evidence that the plant could come back online soon.
“The fact that a price increase can be effective means demand is improved,” Chao said. “Of course, it’s still low relative to running a plant at full capacity.”
According to global chemical market intelligence service ICIS pricing, PE prices have risen to 31.5 cents/lb ($694/tonne, €549/tonne) in February, a 3 cents/lb increase over January levels.
Although the company is restoring its
“Despite the positive signs, it is unclear how severe and how long the global recession will impact the
($1 = €0.79)
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