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European producers decrease prices for HDPE

May 10/2011

MOSCOW (MRC) -- The threat of cheap reexported HDPE in terms of low demand and lowered prices for oil made European producers decrease export prices, according to ICIS-MRC Price report.

As a result, in the last week of April some European producers, expecting cheaper reexport volumes of HDPE from China, considerably reduced export prices. To sell their April stocks, producers temporarily reduced export quotations by EUR 50-60/mt.

Contract May price for ethylene in Europe grew by EUR 25/mt. Despite this, last week European producers reduced export prices for May by EUR 15-50/mt. Over the last seven days quotations for oil fell more than by USD 10/brl, while dollar strengthened against euro. All these factors force many market players put on hold buying materials expecting further reduction of prices. Meanwhile Ukrainian companies temporarily suspended HDPE purchases in Europe.

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