20 January 2011 16:46 [Source: ICIS news]
LONDON (ICIS)--Dow is targeting a €100/tonne ($135/tonne) increase for its February polyethylene (PE) sales in Europe, the Middle East and Africa (EMEA), a company source said on Thursday.
The company had initially considered an increase slightly below this, and some buyers said that they had been approached by the company earlier this week with a €90/tonne increase.
Other producers were also considering higher prices for February, after a successful increase in January, when PE prices had risen by €100-130/tonne following the €105/tonne increase in the January ethylene monomer contract price.
Low density PE (LDPE) was now trading at €1,400-1,450/tonne FD (free delivered) NWE (northwest Europe) on a net basis.
Inventories along the PE chain were low and production was carefully controlled to avoid a build-up of material which might impact pricing. The European PE market was also short of imports.
($1 = €0.74)
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