Dow Chemical, an American petrochemical giant, closed all orders in Europe for high-density polyethylene and linear low-density polyethylene (LDL) for deliveries in February amid increasing raw material prices, ICIS reports, citing sources in the company.
Any additional volumes of material from the company will now have an extra charge of EUR50 per ton.
Last week, SABIC closed its orders for LDPE and announced force majeure at its plant in Wilton, United Kingdom, due to an unexpected cessation of production.
The mood in the polyethylene market began to change, as raw material prices rose, and buyers do not expect a drop in prices for supplies in March.
According to the ICIS-MRC Price Review, the Angarsk RFP on Monday, February 11, due to severe frosts, was forced to stop the production of LDPE. The timing of the resumption of production is not yet announced. Annual production capacity is 75 thousand tons per year.