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Prices for polyethylene in Europe up by EUR 40-100/t

March 09/2011

MOSCOW (MRC) -- Dynamical growth of prices for oil and its derivatives resulted in serious increase of prices for polyethylene (PE), in particular, HDPE, in Europe in March, according to ICIS-MRC Price Report.

Political and war conflicts in some countries of Africa and Middle East became one of the main reasons for high dynamics of oil prices. Over two weeks quotations for naptha rose more than by USD 100/mt. This resulted in growing contract price for ethylene by EUR 60/mt in Europe in March. At that some market players considered the possibility of month split-up to decades in order to define contract prices for ethylene each decade. Later they rejected this idea and the price was fixed for a month.

Prices for polyethylene in Europe grew not proportionally to the growing prices for ethylene. Export quotations for LDPE grew on average by EUR 40-80/mt, depending on producers, and were fixed within the range of EUR 1.420 Ц 1.500/mt, FCA. Prices for butene linear polyethylene increased on average by EUR 60-80/mt.

The biggest growth in prices was for HDPE, where European producers have the lowest margin. Growth of contract prices for ethylene along with scheduled and non-scheduled shutdowns of some capacities allowed European producers to increase prices for HDPE in March by EUR 70-100/mt, depending on a grade. The most painful for converters from FSU became the growth of  prices for pipe polyethylene. Export quotations for European colored PE100 increased to record EUR 1.340 Ц 1.400/mt, FCA.

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