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PE producers in Europe to lose hope of achieving higher prices in September

September 15/2011

(ICIS) -- Polyethylene (PE) producers in Europe are beginning to lose hope of achieving higher prices in September, as demand remains lacklustre, but they do expect to be able to roll prices over by the end of the month, market sources said on Wednesday.

УThe outlook for the months to come is not rosy,Ф said one major producer, who also hinted that production cutbacks would have to be implemented if the European market was not to become oversupplied.

The level of demand most concerns producers this month. September started very slowly and continues to be cautious, but volumes are picking up for some.

August buying was strong, and several PE buyers built up their inventory levels. In June PE producers had been predicting an upturn in ethylene prices, prompting buyers to buy more than they needed in July and August.

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