19 March 2010 15:13 [Source: ICIS news]
LONDON (ICIS news)--Major plastics producer Dow Chemical will target price increases of €60-80/tonne ($82-110/tonne) on all of its polyethylene (PE) grades across the European, Middle Eastern, African and Indian regions from 1 April, the company said in a statement on Friday.
Low density PE (LDPE) would face targets of plus €80/tonne, while high density PE (HDPE) and linear low density PE (LLDPE) buyers would be looking at plus €60/tonne in April, according to the statement.
There was a widespread expectation of price increases for April in the LDPE market, and also for LLDPE, but the market was sceptical of an increase in the HDPE sector, where imports and ample supply affected sentiment.
LDPE and LLDPE prices had increased by €40-60/tonne in March, due to tight availability of product, while HDPE prices had largely rolled over from their February level.
Other PE producers had not yet made April plans clear.
“We will wait for ethylene to settle before we make our plans public,” said another PE producer.
Anything between a rollover to modest increase was expected for the new April monomer contract settlement. The March contract stands at €940/tonne FD (free delivered) NWE (northwest ?xml:namespace>
LDPE gross monthly prices were reported at €1,260-1,270/tonne FD NWE mid-March, up by €50/tonne from February. January and February had seen a combined increase of €150-160/tonne.
($1 = €0.73)
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