MOSCOW (MRC) -- Ufaorgsintez, owned by United Petrochemical Company, has announced an increase of Rb6,600-8,000/tonne in prices of high density polyethylene (LDPE), according to ICIS-MRC Price report.
The plant's customers said prices of all the produced polyethylene (PE) grades had risen since 15 April. Prices of LDPE for the production of general purpose films grew by Rb8,000/tonne from the level as of 1 April, whereas prices of shrinkable film PE rose by Rb6,600/tonne from early April.
Prices of polypropylene (PP) remained unchanged compared with the level as of 1 April.
Many market participants attributed such a major rise in LDPE prices to an unprecedented deficit in the Russian market over the past few years. LDPE prices had reached their historical high by the middle of the month,and they already exceeded Rb100,000/tonne FCA, including VAT, for some grades.
Ufaorgsintez OAO was founded in 1956 and is based in Ufa, Russia. Ufaorgsintez OAO manufactures organic synthesis products in Russia and Europe. Its products include ethylene, propylene, ethanol, cumol, ethyl benzol, phenol, acetone, copolymer rubber, polyolefines (polyethylene and polypropylene), polyvinyl chloride, thinners, and dilutants. The company was incorporated in 1984. United Petrochemical Company owns 87.76% of Ufaorgsintez"s capital. Bashneft sold Ufaorgsintez to United Petrochemical Company in May 2013.
According MRC ScanPlast report, the overall plant's PE and PP totalled 16,200 tonnes and 21,000 tonnes, respectively, in January and February 2015.
MRC