03 December 2012 07:23 [Source: ICIS news]
SINGAPORE (ICIS)--Many distributors in China increased their offers for linear low density polyethylene (LLDPE) in the domestic market following an unexpected shutdown of Daqing Petrochemical's polyethylene facilities, market players said on Monday.
Local distributors raised their offers in the retail market to CNY 10,750-11,100/tonne EXWH (ex-warehouse), at least CNY100/tonne higher than the prices on 30 November, traders said.
Daqing Petrochemical facilities are expected to remain off line for about two months, industry sources said.
The sentiments in physical polyethylene (PE) market were also boosted by increasing domestic manufacturers’ EXW (ex-works) prices on Monday, local distributors said.
The average offers of local producers for LLPDE were at around yuan (CNY) 10,750/tonne EXW on Monday morning, CNY25/tonne higher than the average offers on 30 November, local distributors said.
($1 = CNY6.23)
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