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PE prices in Europe are stable to slightly higher compared with March

April 18/2011

(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),Ф FD (free delivered) NWE on a net basis.

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