23 August 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European August high density polyethylene (HDPE) pipe resin prices for monthly business have increased by €160–180/tonne because of a rise in feedstock costs, producers and converters said on Thursday.
August prices are assessed at €1,425–1,440/tonne FD (free delivered) NWE (northwest Europe) for HDPE 100 and HDPE 80 pipe grades.
The increases are the first in the HDPE pipe market since April and represent a 13-14% jump from July. Price levels are now closer to those last seen in February.
Sentiment in the PE market first turned bullish in early July, immediately after the €170/tonne decrease in the July ethylene contract price, and pricing ideas for HDPE pipe monthly business became firm as the month progressed.
However, July prices for monthly business were assessed at €1,245–1,280/tonne FD NWE for HDPE 100 and HDPE 80 pipe grades, down by €120-140/tonne from June because of the reduction in the ethylene contract price for July.
($1 = €0.80)
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