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(ICIS) -- Rising crude oil prices have
given a boost to polyethylene (PE) spot prices globally, but ample
inventories in Latin America and subdued demand in China could make March export
price hikes more difficult for US producers, sources said on Friday. Some
traders with unsold cargo already on the water are having to make aggressive
offers in the region, the source added.
Another trader said China buyers remained very quiet, and as a result,
Asian manufacturers were trying to sell more material outside Asia. The second
trader said buyers were reacting to the crude oil market and paying slightly
higher prices for material than 7-10 days ago.
A US producer was considering price increases of 3-4 cents/lb
($66-88/tonne, ?48-63/tonne) for March cargoes, a source said. US high-density
PE (HDPE) blow-moulding grade for export was at 58-61
cents/lb FOB (free on board) US Gulf in bags, as assessed by ICIS. Linear
low-density PE (LLDPE) butene film was at 65-66 cents/lb FOB US Gulf in
bags.
mrcplast.com
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