05 July 2012 17:41 [Source: ICIS news]
HOUSTON (ICIS)--Lower-priced feedstock and aggressive offers of imported material have pushed domestic polyethylene (PE) prices down for July, a source with local producer Dow Chemical said on Thursday.
The price of low density polyethylene (LDPE) for July has gone down by about $130/tonne (€104/tonne) and is currently hovering around $1,500/tonne DEL (delivered).
The reduction follows the international trend spawned by lower feedstock prices and declining demand from China and European markets.
A proliferation of import offers has also played a part in the decline. LDPE deals were heard as low as $1,295/tonne CFR Chile main port, although it was not clear if this level was repeatable.
Most LDPE offers were heard around $1,350/tonne CFR Chile main port.
Other grades were also being offered at discounted levels. The local producer was offering linear low density polyethylene (LLDPE) butene in the range of $1,400-1,450/tonne DEL.
High density polyethylene (HDPE) prices for blow moulding applications were heard at similar levels.
However, imports for LLDPE and HDPE were said to be offered in the range of $1,300-1,320/tonne CFR Chile main port.
$1 = €0.80
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