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Prices of film grade HDPE continue to go down in Russia

July 02/2021

MOSCOW (MRC) -- Oversupply continued to put pressure on prices of film grade high density polyethylene (HDPE) in Russia. Prices peaked in the first half of May, and a smooth roll-back has already begun since the middle of the month, which continued throughout June, according to ICIS-MRC Price report.

HDPE prices in Russia were dynamically rising in the first four months of 2021, following a similar price increase in the markets of Europe and Turkey. In April, the European and Turkish markets stopped putting pressure on polyethylene (PE) prices in the Russian market, and prices of film grade PE in Russia reached their peak in May. Since the second half of May, weak demand and oversupply have become the main reasons for the downward price trend.

Limited shipments of film grade HDPE from Kazanorgsintez did not affect the balance of the domestic market. Supply of PE from ZapSibNeftekhim and Stavrolen was more than enough to meet the market needs. In addition, PE imports from neighboring countries have begun to grow for the past two months.

A week earlier, some sellers reduced their film grade HDPE prices to Rb120,000/tonne, including VAT and delivery. At the beginning of this week, some market players, particularly, small-sized sellers for shipments of ZapSibNeftekhim"s PE, already negotiated deals in the range of Rb118,000-118,500/tonne, including VAT and delivery.
Author:Margaret Volkova
Tags:PE, HDPE, film extrusion, ZapSibNeftekhim, Kazanorgsintez, Stavrolen, Russia.
Category:General News
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