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(ICIS) -- US spot offers for some grades
of polyethylene (PE) have emerged 19% below May contract prices, suggesting that
falling feedstock costs and pressure from overseas imports will cause PE
contracts to settle lower in June, buyers said on Friday.
Prime low density PE (LDPE) was offered in the secondary market at 72-74
cents/lb (USD 1.587-1.631/tonne, EUR 1.111-1.142/tonne) FOB (free on board)
Houston for bagged material, while linear low density (LLDPE) butene was offered
at 63-65 cents/lb FOB Houston for bagged material.
By comparison, LDPE film
was assessed at 89-91 cents/lb DEL (delivered), and LLDPE butene was assessed at
78-81 cents/lb DEL for May contracts, according to ICIS.
Negotiations for June contracts are expected to continue through the end
of the month, with some producers continuing to fight decreases, sources
said.
Even with the lower prices, the US export market is hampered by prices in
Asia that are 15-20 cents/lb lower than in North America, sources said.
mrcplast.com
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