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)
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