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(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.
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“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.
mrcplast.com
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