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US November PE contracts drop 3 cents/lb, first cut in 2 years

US November PE contracts drop 3 cents/lb, first cut in 2 years

HOUSTON (ICIS)--US November polyethylene (PE) contracts dropped 3 cents/lb on falling ethylene prices and weaker demand, sources said on Wednesday.

It was the first cut in two years, since November 2012. PE contracts rolled in October.

The November reduction stems from buyers waiting for lower prices, which has weakened demand for domestic polyetheylene.

The decrease lowered values for linear low density PE (LLDPE) butene film to 83-85 cents/lb ($1,830-1,874/tonne) DEL (delivered); low density PE (LDPE) film to 91-93 cents/lb DEL; and high density PE (HDPE) blow moulding prices to 83-85 cents/lb DEL, for small volume buyers, as assessed by ICIS.

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