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Europe PE buyers unable to obtain lower prices in November

November 22/2010

(ICIS) -- Polyethylene (PE) buyers in Europe have been unable to obtain lower prices from producers in November as a result of smaller-than-expected amounts of imported material amid lacklustre demand and a flat market, sources said on Friday.


PE buyers had faced price increases of around ?30/tonne in November, an amount that would cover the ?28/tonne increase in the monthly ethylene contract price, which now stood at ?978/tonne FD (free delivered) NWE (northwest Europe).


Buyers of low density polyethylene (LDPE) were under even more pressure, as producers aim to raise prices next month. On 18 November, Dow Chemical announced a ?70/tonne increase for December PE. The US-based chemical major was making it clear that it was looking to cover what it saw as its increased costs in PE.


Producers of LDPE and linear low density polyethylene (LLDPE) reported strong demand this month, and Dow said that it had already closed its order books for November.


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