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PE prices rising

January 14/2010
MOSCOW (MRC) -- The beginning of the new year was marked by increase in polyethylene prices for European and Asian converters. Early in January, PE prices went up in Asia and Western Europe on average by USD100-120/mt, compared to December.

Market experts believe the main reasons of the rise in prices are low stocks and more expensive feedstock. Apprehension of slump of prices, as it happened at the end of 2008, and falling imports in view of strong demand in Asia led to lack of polyethylene in Europe. Prices for ethylene that exceeded the level of USD1.200/mt facilitated growth of PE prices. Eventually, by mid-January, LDPE prices have moved close toward EUR1.000/mt in Europe, and USD1.4501.500/mt in Asia.

Converters expect that the Asian market will be less active in view of the forthcoming New Years holidays, which, in their opinion, might hold up growth of prices. However, market experts believe that the situation with stocks will only continue to push up PE prices in January.

 

For more detailed information on the Russian polyethylene market, see Price reports.

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