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In the Middle East Dec black HDPE pipe falls USD30-50/tonne

December 08/2011

(ICIS) -- The Middle East spot prices of black compounded high density polyethylene (HDPE) pipe have fallen by about USD30-50/tonne (EUR 23-38/tonne) this month for December shipments from November settlements because of ample supply amid flat demand, producers and converters said on Thursday.

The fixtures for December cargoes were done at USD1,490/tonne DEL (delivered) GCC (Gulf Cooperation Council), which is equivalent to USD1,470-1,490/tonne CFR GCC, industry players said. This is down by USD30-50/tonne or 2.6% from November levels, the players added.

The prices of black pipe grade HDPE started to decline steadily during the fourth quarter of this year, along with the stable-to-soft prices in the leading Asia markets.

This decline occurred after a Saudi producer was certified for its black compounded pipe grade HDPE in August.

With a new player in the market, competition has increased, a Dubai-based converter said.
The end of the financial accounting year is just around the corner and given the reduced intention to build up inventories with the converters, producers are trying to push out more [cargoes] to keep their stock levels low, a southeast Asian polyethylene (PE) producer said.

The offers of southeast Asian material for shipment in December were heard at USD1,520/tonne CFR GCC, which did not attract the buyers whose bids were at USD1,490/tonne CFR GCC and below.

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