LONDON (ICIS news)--The Dow/Repsol 150,000 tonne/year low density polyethylene (LDPE) joint venture TDESA plant at Tarragona, Spain, will be down for the whole of June, a company source said on Wednesday.
The plant had been due for a planned maintenance shutdown but this would be extended to the end of the month, the source said.
The spot LDPE market was showing signs of small price increases as production was cut back in Europe and buyers replenished very low stock levels.
It was proving very difficult for sellers to reach a hike in June monthly pricing, however, and most sellers expected to be able to pass on little more than the €20/tonne ($28/tonne) in June ethylene.
Europe continued to be supported by strong exports to South East Asia in particular.
“My best net unit returns are on exports to the Middle East and Asia,” said a producer.
European demand remained flat.
Producers in Europe include SABIC, ExxonMobil, LyondellBasell, Borealis, Dow Chemical, Total Petrochemicals, INEOS Olefins and Polymers, Polimeri Europa and Repsol.
($1 = €0.71)
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