18 July 2013 10:47 [Source: ICIS news]
LONDON (ICIS)--European polyethylene (PE) producer INEOS has closed its order books for July for low density polyethylene (LDPE), the company said on Thursday.
INEOS attributed the stopping of orders to low inventory levels and to control pre-buying activity ahead of expected increases in the feedstock ethylene August contract price.
The announcement from INEOS comes three days after LDPE producer Versalis closed its order books, again because of low inventory level and significant rising costs of feedstocks.
Dow Chemical put order stops on LDPE last week.
Prices for LDPE have been under heavy upward pressure for some weeks because of tightness in the LDPE market.
($1 = €0.76)
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|
Asian Chemical Connections