24 March 2010 16:34 [Source: ICIS news]
LONDON (ICIS news)--INEOS’s 285,000 tonne/year polypropylene (PP) plant at Grangemouth in the UK is back on line after a week’s unplanned outage due to technical issues, but force majeure remains in place, a company source said on Wednesday.
“The plant came back over the weekend [20-21 March],” said the source, “but force majeure is still in place. We are dry.”
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Homopolymer injection net prices were trading around €1,100/tonne FD (free delivered) NWE (northwest
PP players were expecting an increase of up to €60/tonne on April propylene, and this would inevitably lead to increases on PP, several said.
“We will be looking for a three-digit hike for April PP,” said another major producer, while a large buyer retorted:“They will get nothing more than the propylene increase.”
The propylene contract settlement for April was expected imminently. The March contract stands at €910/tonne FD NWE, and some observers said that propylene could settle higher than ethylene for the first time ever. The March ethylene contract stands at €940/tonne FD NWE.
PP producers in
($1 = €0.74)
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