17 June 2013 11:36 [Source: ICIS news]
LONDON (ICIS)--Metallocene linear low density polyethylene (MLLDPE) prices are rising in line with those in the wider polyethylene (PE) market, sources said on Monday.
Demand for PE improved sharply in May as buyers considered the bottom of the current cycle had been reached, and tightness in linear low density polyethylene (LLDPE) in particular impacted on MLLDPE sales. Strong demand has continued into June.
“My major supplier is offering me an increase of minimum €50/tonne in June,” said a large buyer.
Spot MLLDPE prices have also risen in the past couple of weeks as low-priced South Korean product has been less available, and less competition between domestic manufacturers in Europe has been noted by buyers.
Net MLLDPE C6 (hexene based) spot prices were trading above €1,400/tonne ($1,867/tonne) FD (free delivered) NWE (northwest Europe) on a net basis in most cases, in spite of some offers below this.
One producer was understood to be lifting its net MLLDPE price to €1,500/tonne FD NWE but it was not clear whether such a level was being accepted on a widespread basis in Europe.
($1 = €0.75)
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