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January prices of European PE rose by EUR100/tonne and higher for CIS markets

January 15/2021

MOSCOW (MRC) -- The January contract price of ethylene was settled in Europe up by EUR65/tonne from the previous month. However, all European producers announced a much greater increase in export polyethylene (PE) prices for January shipments to the CIS markets, than the rise of monomer prices, according to ICIS-MRC Price report.

Negotiations over January prices of European PE began in the first days of the month. All market participants said European producers significantly raised their export prices of ethylene polymers. Moreover, some producers adjusted their export prices twice in the first two weeks of January. In some cases, the price increase was EUR100/tonne, and in other cases, the price rise reached EUR170/tonne and higher.

It is also worth noting that all European producers have major export restrictions, and some producers do not even plan to sell PE to the CIS countries this month.

Deals for January shipments of high density polyethylene (HDPE) were done in the range EUR950-1,030/tonne FCA, whereas last month"s deals were done at EUR850-925/tonne FCA. Deals for low density polyethylene (LDPE) were done in the range of EUR1,140-1,200/tonne FCA, versus EUR970-1,020/tonne FCA a month earlier.

The situation with Middle Eastern PE was similar, local producers also raised their export prices under the pressure of higher crude oil prices and strong demand. Quotas for shipments to the CIS markets were reduced noticeably in comparison with December. Prices of Middle Eastern PE were also affected by an additional pressure from the rising sea freight.

Deals for January shipments of Middle Eastern HDPE were done in the range of USD1,120-1,180/tonne CIF. Offer prices for butene linear low density polyethylene (LLDPE С4) reached USD1,220/tonne CIF.
Author:Margaret Volkova
Tags:Europe, PE, LLDPE, LDPE, HDPE, copolymer, ethylene, Belarus, Russia, Ukraine.
Category:General News
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