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October PE pipe prices largely steady on balanced market

October 15/2010

LONDON (ICIS) -- European polyethylene (PE) pipe resin October contract prices largely settled at a rollover, although some slight reduction was noted at the high end of business as price ideas narrowed, players confirmed on Thursday.

Black high density PE (HDPE) 100 prices slipped by ?10/tonne ($14/tonne) at the top of the range, as higher offers were no longer workable in the market due to some aggressive competition for market share.


This left black HDPE 100 prices at ?1,190-1,240/tonne FD (free delivered) NWE (northwest Europe) on a gross basis, which is subject to discounts and rebates according to data from ICIS.

The weaker US dollar exchange rate was the main factor driving prices down, according to market commentators, who said that this had now largely closed off export opportunities for European sellers, pushing material earmarked for export back into the already lengthening market.

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