19 July 2013 07:55 [Source: ICIS news]
SINGAPORE (ICIS)--An unplanned shutdown at a 300,000 tonne/year plant in Thailand is expected to exert upward pressure on near-term low density polyethylene (LDPE) prices in India, as supply will likely tighten across the region, according to Mumbai-based traders on Friday.
“Definitely the plant closure will impact the LDPE market in south Asia. Expect prices to go up,” a Mumbai-based trader said.
“If China and neighbouring markets are short, they will target producers supplying to the Indian market. Overall, supply will be tight,” said a separate trader.
The shut LDPE plant in Thailand is operated by PTT Global Chemical (PTTGC).
The unit was taken off line last week because of mechanical problems and is expected to be down for three months.
Another Mumbai-based trader also reported higher sales enquiries for LDPE lamination material during the week ended 19 July.
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