HDPE, LDPE prices dip to more than 2-year low in Europe
According to ChemOrbis Price Wizard, HDPE film and b/m prices in Italy and Northwest Europe stand at their lowest levels since February 2015 on average.
Similarly, LDPE prices are currently standing at €1175/ton in Italy and at €1195/ton in Northwest Europe on a weekly average, marking the lowest levels seen since mid February and early March 2015, respectively.
HDPE deals are being closed with larger decreases of up to €60-70/ton due to ample supplies while modest discounts are passing on LDPE and LLDPE deals owing to improving demand as a result of concerns upon the nearing bottom and tighter supply.
Sellers are not willing to give larger discounts from now on, citing better demand and their squeezed margins. A distributor from Italy applied only €30/ton discounts on July LDPE offers, claiming that they have been applying larger decreases than the ones in ethylene prices gradually since April.
ChemOrbis Price Wizard also reveals that the gap between HDPE film & b/m prices and ethylene prices has been narrower than usual as it stands below €200/ton for almost 4 months, proving tighter margins on the sellers’ side. A rebound in HDPE prices is not considered likely unless ample stocks are digested.
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