28 January 2011 18:50 [Source: ICIS news]
LONDON (ICIS)--INEOS has declared force majeure on high density injection polyethylene injection from its 240,000 tonne/year plant in Lavera, France, a company source said on Friday.
The exact status of the plant was not clear.
INEOS also had force majeure restrictions in place on low density PE (LDPE) from its Cologne, Germany, site.
PE producers were targeting increases for February following the settlement of the February ethylene monomer contract at €1,135/tonne FD (free delivered) NWE (northwest Europe), up by €25/tonne ($34/tonne).
January PE prices had already risen by over €100/tonne. HDPE injection net levels were now above €1,200/tonne FD NWE, and LDPE net prices were at €1,420-1,450/tonne FD NWE.
Pricing discussions for February were not yet under way.
PE is used extensively in the packaging and household goods sectors.
($1 = €0.73)
To discuss issues facing the chemical industry visit ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|