January prices of European PE rose by €100/tonne and higher for CIS markets

MOSCOW (MRC)–The January contract price of ethylene was settled in Europe up by €65/tonne from the previous month, according to ICIS-MRC Price report.

European producers announced a greater increase in export polyethylene (PE) prices for January shipments to the CIS markets, than for monomer prices.

Price increases ranged from €100-170/tonne, with some offers exceeding the higher end of the range.

All European producers have major export restrictions, and some producers do not even plan to sell PE to the CIS countries this month.

Prices for January shipments for high density polyethylene (HDPE) between €950-1,030/tonne FCA, up from €850-925/tonne FCA(free carrier) last month.

Low density polyethylene (LDPE) prices were up €1,140-1,200/tonne FCA, from €970-1,020/tonne FCA a month earlier.

The situation with Middle Eastern PE was similar as local producers also raised export prices under the pressure of higher crude oil prices and strong demand.

Quotas for shipments to the CIS markets were reduced noticeably in comparison with December with prices of Middle Eastern PE also impacted by rising sea freight costs.

January shipments of Middle Eastern HDPE were done in the range of $1,120-1,180/tonne CIF (cost, insurance and freight).

Offer prices for butene linear low density polyethylene (LLDPE С4) reached $1,220/tonne CIF.

MRC, a partner of ICIS, produces polymers news and pricing reports from Russia, Ukraine, Belarus, Uzbekistan and Kazakhstan.