26 July 2010 11:07 [Source: ICIS news]
LONDON (ICIS news)--LyondellBasell’s new 260,000 tonne/year high density polyethylene (HDPE) plant at Munchmunster in Germany came back on stream over the weekend of 24-25 July after an unplanned outage brought it to a halt for several days, a company source said on Monday.
The new plant started up earlier this month.
HDPE producers in Europe had managed to keep pricing largely stable in recent weeks, after an upward trend that lasted for several months. However, new capacities in the Middle East and Asia were expected to introduce downward pressure into the European market in the coming weeks, said market sources.
Borouge had started up its new 540,000 tonne/year HDPE/linear low density polyethylene (LLDPE) swing plant at Abu Dhabi, United Arab Emirates, a source close to the company said. The new PE plant was currently producing injection and blowmoulding grades. Other grades, such as film and pipe, would eventually be introduced into the production system, said the source.
HDPE film prices had lost around €30/tonne in July in Europe, trading in the mid-€1,000s/tonne FD (free delivered) NWE (northwest Europe) on a net basis, and buyers expected further erosion in August. HDPE blowmoulding and injection grades were largely stable.
Sources expected polyethylene (PE) pricing in general to erode in August, on expectations of a lower ethylene monomer contract price. The ethylene settlement was due imminently.
($1 = €0.77)
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