SABIC Europe to increase July polyethylene prices in Europe

SABIC Europe announced today that, as of the 1st July 2008, it will increase prices in Europe by Ђ200 per ton for all of its HDPE, LDPE and LLDPE products.

This price increase comes as a result of the significant and unprecedented increases in oil and naphtha prices, as well the related prices of raw materials for polyethylene, which have shown to be of an enduring nature.

Throughout the value chain, the increased costs of raw materials constitutes a large part of the cost price of related products manufactured by our customers in the converting industry. Therefore, we would understand any decision made by our customers to reflect the price increases for HDPE, LDPE and LLDPE products in the cost prices of their related products.