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INEOS's Cologne LDPE unexpectedly down in already-tight market

November 05/2010

(ICIS) -- INEOSs 200,000 tonne/year low density PE (LDPE) plant at Cologne in Germany is offline unexpectedly for an anticipated two weeks, a company source said on Friday. It was not clear when the plant failed.


This latest outage, coming after strikes in France which affected LDPE output, was exacerbating the tight supply position of LDPE in Europe.


Producers were targeting higher prices, but margins were already strong for LDPE manufacturers and buyers resisted paying increases, in spite of the ?28/tonne ($40/tonne) hike on the November ethylene monomer contract price.


Monthly pricing discussions were not expected to settle until later in November.


The delta between LDPE and linear low density PE (LLDPE) prices was widening from the ?50/tonne that had been traditional for many months, to ?150/tonne in some cases, according to several market sources.


The new delta was caused as much by a weakening of LLDPE prices, affected by imported volumes, as the strength of the LDPE market.


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INEOS's Cologne LDPE unexpectedly down in already-tight market

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