Europe PE spot prices firm; hike targeted for April
29 March 2007 11:15 [Source: ICIS news]
LONDON (ICIS news)--Polyethylene (PE) spot prices have firmed in Europe as producers target higher prices for April business, market sources said on Thursday.
High density polyethylene (HDPE) remained the tightest grade, with a couple of distributors complaining that they were not able to get their full volumes from their suppliers.
“We are particularly short of HPDE film grades and have no firm alternative source for April at present,” said one large European distributor.
Offers of HDPE into
One
He said low density (LDPE) spot levels were up by the equivalent of about €30/tonne ($40/tonne) for April deliveries after a slow period earlier in the month.
PE producers were aiming to recover the €35/tonne increase in Q2 ethylene in April.
Not all LDPE spot sellers reported increased demand for April yet, however, and they said buyers might now have enough product to allow them to wait until after upcoming Easter holidays before placing volumes for April.
The consensus was that while producers might not achieve the full €35/tonne from Q2 ethylene in April, there would be some upward movement based on limited supply and strong demand.
LDPE prices were still not fully settled for March at several large retroactive accounts, but prices were moving up by €20-30/tonne.
LDPE gross monthly prices were at €1,190-1,200/tonne FD (free delivered) NWE (northwest
($1 = €0.76)
By: Linda Naylor
+44 20 8652 3214
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