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Europe July MLLDPE contracts down on growing availability

July 20/2011

(ICIS) -- Growing availability in the European metallocene linear low density polyethylene (MLLDPE) market has weighed heavily on Julys contract prices, forcing values to dip by EUR 5060/tonne (USD 7085/tonne), market participants said on Wednesday.

Import pressure and a growing disparity between spot and contract values left producers with little choice but to offer reductions at a minimum of EUR 50/tonne, according to several sources.
This left July C8 blown film grade MLLDPE contract prices at EUR 1.5001.550/tonne FD (free delivered) NWE (northwest Europe) on a gross basis, according to ICIS. Many market players felt the reductions could be on a higher level by the end of the month, with at least one buyer saying that it was looking to achieve the full upstream ethylene decrease of EUR 95/tonne, or even a three-digit reduction.

Exports into Europe are also available at levels of EUR 1.330/tonne FCA (free carrier), according to several traders, with C8 blown film grade MLLDPE offered to consumers at around EUR 1.400/tonne FD on a net spot basis.

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