MOSCOW (MRC) - Ufaorgsintez owned by "United Petrochemical Company" (UPC) announced an increase in polypropylene (PP) and polyethylene (PE) prices of roubles (Rb) 1,500 - 3,000/tonne, according to ICIS-MRC Price Report.
According to the company's customers, prices for all grades of homopolymer PP increased by Rb1,500/tonne from 30, June, compared with the level on 23, June. Prices for propylene copolymers remained steady.
Prices for all grades of low density polyethylene (LDPE) also increased. LDPE prices for the production of general purpose films grew by Rb2,000-3,000/tonne; prices for LDPE for shrinkable films rose by Rb3,000/tonne.
Customers of the company explained the rise in LDPE prices by increasing deficit in the domestic market, besides Ufaorgsintez plans to shut its capacities for 8-days maintenance works from 13, July.
Ufaorgsintez was founded in 1956 and is based in Ufa, Russia. As of January 22, 2010, Ufaorgsintez operates as a subsidiary of Bashneft Joint Stock Oil Company. "United Petrochemical Company" (UPC) owns 87.76% of Ufaorgsintez"s registered capital. Bashneft sold Ufaorgsintez"s stake to UPC in May 2013.
Ufaorgsintez manufactures organic synthesis products in Russia and Europe. Its products include ethylene, propylene, ethanol, cumol, ethyl benzol, phenol, acetone, copolymer rubber, polyolefines, polyvinyl chloride and polyethylene items, thinners, and dilutants. The plant's annual polypropylene (PP) production capacity is 100,000 tonnes.
According MRC ScanPlast, total LDPE and PP production at Ufaorgsintez was 41,800 tonnes and 53,900 tonnes in the first five months of 2015, respectively.
MRC