Competitive Middle Eastern PE prices show up in Italy
A West European producer concluded their spot January deals €90-120/ton below last month after revising their initial prices slightly downward. A producer source said, “We issued larger decreases for LDPE compared to the beginning of the month while we maintained our reductions for HDPE film due to short supply. Demand has been slow this month as buyers expect PE prices to decline further in February.” A distributor sold West European LDPE €130/ton below last month after initially seeking to limit their discounts to €90/ton while he didn’t revise his HDPE prices from the beginning of the month.
Looking at the import market, some buyers purchased Middle Eastern LDPE and HDPE film at €880/ton CIF, subject to 6.5% customs duty, 60 days. Iranian LLDPE was sold at €890/ton with the same terms.
These levels are not only below local offers, but they are even lower than the latest prices in Turkey’s PE market, where Middle Eastern origins are offered at $1150-1180/ton for LDPE, at $1090-1160/ton for LLDPE and at $1130-1160/ton for HDPE film, all CIF, cash, subject to 6.5% duty. These levels come to €1022-1050 for LDPE, to €970-1032/ton for LLDPE and to €1005-1032/ton for HDPE film on a euro basis.
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