30 April 2012 00:00 [Source: ICB]
PE PRICES RISE MODESTLY IN EUROPE
Prices for high density polyethylene (HDPE) pipe resin rose in Europe by €30-40/tonne ($40-51/tonne) in April. This is below producers' initial target of plus €70/tonne price hikes. A push-back from buyers closed price initiatives at a lower level. This is the lowest monthly increase so far this year, producers and converters said. Most producers managed to push through large increases in the first quarter this year to recoup a fall in margins in late 2011.
APRIL PE PRICES REDUCED IN MEXICO
Mexico-based energy and chemical giant Pemex reduced its prices for all grades of polyethylene (PE), effective April 17 to address changing market conditions and
currency fluctuations. The reductions were varied. High density PE (HDPE) grades declined by 5.5%, while prices for low density PE (LDPE) and linear low density PE (LLDPE) declined by 4.5%. LLDPE hexene declined by 7%, and rotomolding resins were reduced by 5%. Meanwhile, imported material from the US has been selling at discounted prices in Mexico. Before these reductions, Mexico's LDPE prices were at $1,754-1,926/tonne FOT (free on truck); LLDPE butene prices were at $1,502-1,730/tonne FOT; and HDPE blow molding prices were at $1,465-1,653/tonne FOT, as assessed by ICIS.
PP CARBONATE PLANT TO BE BUILT IN KOREA
South Korea-based SK Innovation plans to begin construction of a polypropylene (PP) carbonate resin facility at Ulsan, South Korea, by the end of 2012 or early 2013. The facility will use carbon dioxide and propylene oxide as feedstocks. Commercial production at the new plant will start in 2015, but the exact timeline is not fixed.
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