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April PE prices start on firm note across Europe

by ChemOrbis Editorial Team -
  • 05/04/2016 (03:28)
The European PE market started April on a firm note in line with expectations after ethylene contracts fully settled up €60/ton from March. Initial PE hikes are seen outpacing the gain in ethylene contracts in many cases, depending on supply levels on the part of some sellers.

A South European producer started giving offers for their April PE contracts with increases of €60/ton in line with the ethylene settlement after closing their March contracts with rollovers. A producer source stated that they might seek slightly larger hikes of €80/ton in a few cases, adding that their LDPE availability is still short.

A West European producer closed their March PE contracts with rollovers for HDPE and increases of €10-20/ton for LDPE. The supplier lifted their PE prices by €80/ton for April. A source from the producer reported, “We applied increases slightly larger than the ethylene hike of €60/ton since our supply is still short for LDPE and HDPE injection. Demand was good in March and we expect it to perform well in April too.”

A distributor in Germany raised his April PE prices by €80-100/ton from March, applying larger hikes on his LDPE prices citing tight availability for this product. Another distributor in Italy issued increases of mainly €60-70/ton from March for West European and locally-held Middle Eastern PE. “Our supply is adequate for LLDPE while it’s tightening for LDPE. We heard that larger hike requests of up to €100/ton were present in the market,” he commented.

Many buyers settled their March PE contracts with rollovers from February. Even though they are yet to make new price inquiries for April, some of them were already expecting PE hikes to outpace the increase in ethylene contracts this month given ongoing supply constraints. Ineos was expected to conduct an HDPE shutdown in Belgium in the April-May period.
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