21 March 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--March price ranges for European high density polyethylene (HDPE) pipe resin were assessed by ICIS on Thursday up €10/tonne ($13/tonne) on the low end compared with the previous month.
This brought the range for HDPE 100 and for HDPE 80 to €1,530-1,570/tonne FD (free delivered) NWE (northwest Europe).
While producers sought price hikes of up to €60/tonne on the back of the European March ethylene contract price having risen by €50/tonne, buyers fought against increases, citing poor demand and oversupplied conditions.
Both persistent winter weather and poor macroeconomic conditions are taking their toll on requirements for the product.
As a result, producers were forced to compromise, with some achieving relatively small increases of €20-30/tonne, while others accepted a rollover from February prices.
($1 = €0.77)
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