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Europe LDPE spot prices fall from record highs

April 19/2011

(ICIS) -- Low density polyethylene (LDPE) prices in Europe have slipped from their record highs of above EUR 1.500/tonne (USD 2.174/tonne), but market players do not expect values to crash as crude oil and naphtha prices remain high, several sources said on Monday.

Spot LDPE prices are now at EUR 1.450Ц1.500/tonne FD (free delivered) NWE (northwest Europe), down from their record highs of EUR 1.500Ц1.530/tonne FD NWE, which were seen in some cases in March.

A couple of buyers even quoted some spot lots offered by European producers for April delivery at EUR 1.420/tonne FD NWE, but this was not as prevalent in the market.

Monthly LDPE prices are stable to slightly higher. Producers are aiming to recover the EUR 10/tonne increase in the April ethylene monomer price. While some buyers had been forced to accept a EUR10/tonne increase, others have simply refused to entertain any increases at all.

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