MOSCOW (MRC) -- Europe's February contract price of ethylene was agreed by EUR70/tonne lower than in January. However, many European polyethylene (PE) producers reduced their export prices of polymer for the CIS markets more significantly, than the fall in monomer prices, according to ICIS-MRC Price report.
The reduction in PE prices was EUR70-150/tonne, with high density polyethylene (HDPE) accounting for the greatest decrease.
Deals for February HDPE shipments were negotiated in the range of EUR1,150-1,225/tonne FCA this week, whereas January deals were done in the range of EUR1,290-1,345/tonne FCA. Some market participants said some producers had certain restrictions in shipments' dates, but in general, supply of PE was sufficient.
In February, European producers do not have any estrictions in exports of low density polyethylene (LDPE). Deals were mainly negotiated in the range of EUR1,150-1,220/tonne FCA, whereas last month's deals were done in the range of EUR1,300-1,350/tonne FCA.
Prices of European linear low density polyethylene (LLDPE), particularly, of metallocene LLDPE, dropped the least of all. Deals for February shipments were discussed in the range of EUR1,400-1,480/tonne, down by EUR70-90/tonne from January.
MRC