14 October 2013 06:28 [Source: ICIS news]
SINGAPORE(ICIS)--Import prices of low density polyethylene(LDPE) in China increased to their highest level in more than two years because of tight supply, market sources said on Monday.
On 12 October, LDPE film grade was assessed at $1,630/tonne (€1,206/tonne) CFR (cost and freight) China, up by 2% week on week, and the highest level hit since end-May 2011, according to Chemease, an ICIS service in China.
Supply is tight since August, with the shortage expected to last throughout this month because of plant shutdowns in southeast Asia and Iran, China-based traders said.
In southeast Asia, PTT Global Chemical’s 300,000 tonne/year LDPE plant in Thailand has been down since early July, while Petlin’s 255,000 tonne/year plant in Malaysia was taken off line in September for turnaround.
The two plants are expected to be restarted late this month, according to market sources.
In Iran, Arya Sasol Petrochemical’s 300,000 tonne/year LDPE unit in Asaluyeh is expected to be shut sometime this month for a 20-day maintenance, a regional trader said.
Company officials were not immediately available for comment.
Iran is a major supplier of LDPE to China.
($1 = €0.74)
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