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(ICIS) -- Polyethylene (PE) prices in Europe this month are
stable to slightly higher compared with March, but buying remains cautious as
consumers wait for price levels to ease in the coming weeks, sources said on
Friday.
The US dollar has weakened against the euro, providing European producers
with a buffer against the rise in upstream prices.
On Friday morning, Brent crude oil was trading at USD121.95/bbl and
naphtha was at USD 1.030-1.038/tonne CIF (cost, insurance freight) NWE
(northwest Europe).
The PE market is becoming fragmented and some grades are seen as firmer
than others.
Availability of high-density injection and blowmoulding is tight. But
even for these grades, buyers are reluctant to pay higher prices.
Low density polyethylene (LDPE) buyers are now getting some relief after
several months of price increases. Monthly prices are now at a record high,
trading around EUR 1.500/tonne (USD 2.174/tonne),” FD (free delivered) NWE on a
net basis.
mrcplast.com
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