18 June 2010 14:09 [Source: ICIS news]
LONDON (ICIS news)--Major plastics producer LyondellBasell’s 320,000 tonne/year low density polyethylene (LDPE) plant at Aubette, France, is back on stream but force majeure, declared in the early days of June, remains in place, a company source said on Friday.
Market sources close to the company reported that the plant had resumed full production several days ago, but LyondellBasell declined to give an exact start-up date.
“Our low density stocks are very low and will remain so for some while,” said the source.
LDPE availability was tight in Europe due to earlier planned closures and some unplanned outages.
Buyers confirmed paying increases of around 30% in 2010, and some producers were planning to implement further hikes in July.
LDPE net prices were now at €1,280-1,300/tonne ($1,580-1,605/tonne) FD (free delivered) NWE (northwest Europe). Polyethylene (PE) prices globally were beginning to ease, but European sellers were confident of another strong month in July.
LDPE is used mainly in the manufacture of film for the packaging industry.
($1 = €0.81)
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