MOSCOW (MRC)--European polyethylene (PE) producers have cut prices for CIS export material to a level below that of the June ethylene contract, which settled down by €35/tonne from May, according to the ICIS-MRC Price Report.
Negotiations over export prices of European PE to be shipped to the CIS markets began on Monday with many stating that most producers had substantially reduced their export PE prices.
In some cases, the price decreases reached €70/tonne lower than in May.
Deals for June shipments of high density polyethylene (HDPE) were discussed in the range of €1,050-1,120/tonne FCA (free carrier), whereas last month's deals were done in the range of €1,100-1,190/tonne.
Negotiations over black pipe grade PE 100 was held in the range of €1,280- 1,320/tonne FCA. Some companies were slow to negotiate their deals, hoping to achieve lower prices.
Deals for June shipments of low density polyethylene (LDPE) were discussed in the range €1,110-1,210/tonne FCA, whereas last month's deals were done in the range of €1,150-1,250/tonne.
MRC, a partner of ICIS, produces polymers news and pricing reports from Russia, Ukraine, Belarus, Uzbekistan and Kazakhstan.