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)
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