LyondellBasell will close its 320,000 mt/year low density polyethylene plant at Aubette in France from December 1 for two weeks, industry sources said Wednesday.
The company's spokesman declined to comment.
The industry sources said the plant would be shut to draw down inventories. Poor demand amid the backdrop of the European debt crisis has resulted in an oversupply in the LDPE market.
Both contract and spot prices drifted lower in November. Spot prices closed at Eur1,042.50/mt FD NWE Tuesday, down Eur25/mt week-on-week. Contract prices in November have so far consolidated at Eur1,290-1,295/mt FD NWE, representing a fall of Eur20/mt on the month.
