25 March 2010 16:30 [Source: ICIS news]
LONDON (ICIS news)--LyondellBasell’s 210,000 tonne/year polypropylene (PP) plant at Carrington, UK, is running at reduced rates and force majeure (FM) remains in place after more propylene issues affects production at the plant, a company source said on Thursday.
The plant had suffered a 12-day delay after a planned maintenance outage, however the company managed to start up the plant only to be beset by propylene shortages which led to the declaration of FM restrictions on 17 March.
The PP market was currently digesting the news that an initial April propylene contract had settled up by €70/tonne ($93.3/tonne), at €980/tonne FD (free delivered) NWE (northwest ?xml:namespace>
PP prices had risen by around €200/tonne since the beginning of 2010, and hikes were based more on reduced supply rather than strong demand. Homopolymer net injection prices were trading at around €1,100/tonne in mid-March, but in recent days trading was thin as sources awaited the new monomer contract settlement.
PP producers in
($1 = €0.75)
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