27 September 2013 17:59 [Source: ICIS news]
LONDON (ICIS)--High density polyethylene (HDPE) pipe buyers have paid increases of €50/tonne ($68/tonne) in September, in line with the ethylene contract price for that month but not by as much as sellers had initially targeted, sources said on Friday.
The focus of attention was now October pricing, and the €35/tonne decrease in the October ethylene contract price was expected to be passed through to the HDPE pipe sector without question.
Some buyers expected to be able to achieve a larger decrease than €35/tonne but it was not yet clear whether this would be possible.
“We will give the monomer, but no more,” said a producer.
Lower naphtha prices and a weaker dollar had left producers’ margins at their best level since June.?xml:namespace>
Another HDPE closure was announced in Europe this week, with Repsol planning to close its HDPE line in Puertollano, Spain in 2015.
($1 = €0.74)
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