04 November 2010 15:43 [Source: ICIS news]
LONDON (ICIS)--Polyethylene (PE) buyers in the ?xml:namespace>
The pound sterling was currently trading at £1.14 against the euro, while three months ago its value was at £1.21.
“I will count myself lucky if we can get away with a £50/tonne (€57/tonne) increase this month,” said one large buyer.
UK buyers were coy about giving actual price levels, but the difference between UK low density PE (LDPE) prices and those in mainland Europe were said to be as much as €90/tonne at the end of October.
The balance had begun to be redressed as November business got under way, but there was still a way to go, said some major producers.
Net LDPE prices were currently trading around €1,250-1,270/tonne FD (free delivered) NWE (northwest Europe) in mainland Europe, while the
“We will simply not deliver to the
Another said: “We have to do something. Converters on the continent are complaining of cheap imports from the
LDPE was the grade where the differentials were most pronounced, and where sellers were more likely to succeed in increasing prices. Availability was tight and demand was good.
Year-to-date figures for LDPE were very healthy, unlike its sister grade, linear low density PE (LLDPE), which was showing a decrease compared to 2009 figures. LDPE growth, however, was running at an astonishing 8% over 2009 in
LDPE producers were confident of a strong end to the year as few imported volumes would make their way into
($1 = €0.71)
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