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Italy’s PE market stabilizes despite lower ethylene

by ChemOrbis Editorial Team -
  • 05/01/2016 (15:13)
In Italy, January PE prices have started to emerge while the market is still quiet in the first week of the month due to a bank holiday on January 6. Even though January ethylene contracts settled down €27.50/ton from December, the PE market appears to be holding steady so far, supported by persistently tight availability.

A West European producer rolled over their January PE prices from December in the contract market. A producer source commented, “Our supply is a bit more balanced now. We are seeking to maintain our prices while we heard about hike requests from other suppliers. PE prices might start decreasing as of February if upstream markets remain weak.”

A distributor rolled over their initial West European PE prices from December, maintaining his offers at €1440-1450/ton for LDPE film and at €1500/ton HDPE film and blow moulding on an FD, 60 days deferred payment basis. “Despite the lower ethylene settlement, we are seeking to maintain our prices due to short supply. Our supplier’s PE plant in France is undergoing maintenance and we heard about a few more planned shutdowns across Europe for the first quarter of 2016,”the distributor reported.

Another distributor also left his initial January prices for South European PE unchanged from last month at €1450-1460/ton for LDPE film, at €1440/ton for LLDPE c4 film, at €1460-1480/ton for HDPE blow moulding and at €1480-1500/ton for HDPE film, all on an FD, 60 days deferred payment basis. A different distributor offering South European origins, however, expressed his January sell ideas with rollovers to decreases of €20/ton, commenting that his supplier might concede to slight discounts considering their improved margins and the wide gap between PE prices and ethylene costs.
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