SABIC Europe recently will increase in Europe the price of all SABIC LD, LLD and HDPE materials by 80 euro/mt for deliveries from April. The company indicated that the industry prices went down during the end of 2008 due to highly plummeting global demand. "During the first quarter of this year demand has recovered slightly, however, the pricing for our products needs adjustment in light of a volatile but upwards trend in raw material prices.", Dieter Hollmann, Business Unit Director HDPE adds.
In addition, SABIC Europe said it is currently taking additional measures to trim down operating costs, in order to lessen price volatility to protect itself and our customers from the forces of the global economic downturn.