23 March 2012 09:51 [Source: ICIS news]
LONDON (ICIS)--Austrian major plastics producer Borealis’s 350,000 tonne/year low density polyethylene (LDPE) plant in ?xml:namespace>
The Borealis plant at Stenungsund on
Prices have risen by around €130/tonne since February, with net LDPE spot levels now trading in a wide range, centring round €1,400/tonne FD (free delivered) NWE (northwest Europe).
The market is now waiting for the April ethylene monomer contract to settle to give direction to the polyethylene (PE) market in April.
Most sources expect a modest increase in the monomer contract, and PE producers have already made it clear that they will be targeting more margin improvement next month.
Increases in the PE market are mainly cost-driven and due to production cutbacks rather than strong market fundamentals.
LDPE is used widely in packaging and agricultural industries.
($1 = €0.76)
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