10 December 2010 12:33 [Source: ICIS news]
LONDON (ICIS)--INEOS Olefins and Polymers shut down its 320,000 tonne/year C6 linear low density polyethylene (LLDPE) plant at Grangemouth, UK, earlier this week because of extreme weather conditions, a company source said on Friday.
INEOS Olefins and Polymers took the plant off line on 6 December. The company expects to restart the unit at the end of next week, weather permitting, the source said.
The LLDPE market was stronger in December as availability tightened, which was exacerbated by INEOS’s outage, and producers targeted price increases to cover the €27/tonne ($36/tonne) hike in the December ethylene contract price.
C6 LLDPE prices were currently trading around €1,250-1,300/tonne FD (free delivered) NWE (northwest Europe) on a net basis.
($1 = €0.76)
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