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Europe PE, PP buyers get little relief in steady market

November 08/2010

(ICIS) -- Buyers of polyethylene (PE) and polypropylene (PP) in Europe have not been able to procure the lower prices for material they were so confident of achieving by the end of 2010, as there is limited availability for most grades, market sources agreed on Monday.

Delays in new capacities in the Middle East, coupled with careful monitoring of output of European product and, more recently, production constraints caused by strikes in France last month, meant that most PE and PP grades were not in oversupply.

In the case of low density polyethylene (LDPE), product availability was restricted globally, and European buyers were even faced with higher prices in November.

High density polyethylene (HDPE) and PP were also firmer than most buyers had expected.

New PE and PP capacities from the Middle East and Asia would have an effect on European pricing sooner or later, several producers admitted. But in 2010, they had not had the impact that most buyers and sellers had anticipated.


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