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PE buyers in Europe have little appetite for increases in August

August 18/2011

(ICIS) -- Polyethylene (PE) buyers in Europe have little appetite for increases in August, citing low demand and ample availability as reasons to reject higher offers, several said on Thursday. PE producers had initially targeted increases of EUR 50Ц100/tonne (USD 72Ц145/tonne) for the month, following a EUR 30/tonne rise in the August ethylene contract price, but falling crude prices and a poor economic outlook in Europe have led some to abandon the idea of price increases altogether, said buyers.

Some HDPE blowmoulding buyers said that there could be a slight rise in prices, as margins have been poor in this sector and discussions so far have been tough. However, increases are expected to be limited.

The mood in the European PE market has changed several times in August as crude prices have shifted, along with expectations for the September ethylene contract price.

Tags:PE, HDPE.
Category:General News
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