12 October 2009 12:40 [Source: ICIS news]
LONDON (ICIS news)--The revival of polyethylene (PE) buying interest from China on Monday, as holidays ended, led to business being secured from Europe, sources said.
“We have just sold big parcels to ?xml:namespace>
Both buyer and seller confirmed a 2,000 tonne parcel of low density PE (LDPE) general purpose at $1,180/tonne (€802/tonne) CFR (cost and freight) China Main Port (CMP). The seller also reported a sale of 4,000 tonnes of coating grade at an average of $1,250/tonne CFR CMP. The price was consistent with other offers in the region.
Last week, selling indications for Asian general film grade LDPE were at $1,190-1,200/tonne CFR China for October shipment. Linear low density PE (LLDPE) from
LDPE net prices in Europe for prompt delivery were still at €950-970/tonne FD (free delivered) NWE (northwest
Buying interest picked up in
“We have factored a lower ethylene price into our business,” said the European producer, “but new sales will be at an increase.”
($1 = €0.68)
Chow Bee Lin contributed to this story
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections