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European producers to reduce export prices for PE

June 29/2011

MOSOW (MRC) -- Following the slide in Asian and Middle East prices for PE, European producers reduce export prices, on average, by EUR 100/t, according to ICIS-MRC Price report.

Reorientation of PE export streams from Asia and Middle East to Europe forced European producers to reduce prices yet in May. In June, growing competitiveness as well as decrease of oil prices resulted in further cheapening of PE.

Contract price for ethylene in July in Europe fell by EUR 95/t that will affect PE prices next month. Some European producers have already declared EUR 100/t reduction of export prices for LDPE and LLDPE in CIS. Export prices for HDPE were changing during June, as a result some producers declared reduction of July export prices by EUR 120 Ц 150/t compared to early June.

Russian producers unwillingly reduce PE prices both for domestic and external markets. LDPE prices for the domestic market fell by 1.000 Ц 3.000 RUB/t by the end of June, depending on 
producer. Only one Russian producer declared reduction of HDPE prices in  July.

Tags:PE, LLDPE, LDPE, HDPE, ethylene.
Category:General News
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