14 May 2010 10:20 [Source: ICIS news]
“Volumes are good and product is tight,” said the source, who also reported increases of €40-60/tonne ($50-75/tonne) for April LDPE and LLDPE pricing.
Such increases were not yet fully confirmed by buying sources, however, as much polyethylene (PE) business was settled on a retroactive business, so final April pricing was not yet clear.
“We have been offered plus €30/tonne by one supplier, providing that we settle now and not at the end of the month,” reported one buyer, “otherwise they say plus €40-50/tonne by the end of April.”
LDPE net prices were trading in the mid-to-high €1,200s/tonne FD (free delivered) NWE (northwest ?xml:namespace>
LDPE in particular had been tight, and a more constrained ethylene picture now emerging from the market led to a stronger PE situation.
Buying sources were hesitant, however, as ethylene was expected to ease in the coming weeks, but for the time being, prices were clearly up and PE producers expected the June ethylene contract to settle at a modest increase over May.
PE producers in
($1 = €0.80)
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