21 February 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European February high density polyethylene (HDPE) pipe resin prices for monthly business have settled at a rollover to an increase of €10/tonne (€13/tonne), producers and converters said on Thursday.
February prices are assessed at €1,520–1,570/tonne FD (free delivered) NWE (northwest Europe) for HDPE 100 and HDPE 80 pipe grades.
The February prices are thus being sustained close to January levels. In January, prices increased by €30-40/tonne from December because of restocking.
Producers acknowledged that initial targets of €40/tonne for February monthly business had to be lowered to accommodate a rollover in the February feedstock ethylene contract price and slow seasonal demand.
"We have some increases of €10/tonne, I cannot say they are fully achieved across the market, that would be an exaggeration," a producer said.
A buyer said: "The market moved flat in February ... [there are] no increases."
The HDPE pipe market in Europe is suffering from slow demand as buyers procure minimum volumes in line with slow downstream business.
HDPE pipe demand has traditionally fallen during winter when downstream piping applications decline due to the cold weather.
($1 = €0.75)
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