LDPE offers trimmed down on slack demand in Italy
A distributor in Italy reported, “We revised our LDPE prices down by €30/ton following our West European supplier’s pricing policy to speed up our sales given weak demand. As for April, we expect a small increase on the ethylene contracts while we believe that prices may stabilize on the back of slow demand and possible pressure from competitive imports.” Whether the other PE products will also witness similar downward revisions in the near term is yet to be seen, meanwhile. He added, “We revised our LDPE prices following our supplier’s guidelines, but we keep our HDPE prices unchanged at €1340-1360/ton for HDPE film and b/m FD, 60 days.”
Demand has cooled off as buyers, who have sufficient stocks, are resisting higher offers and they are sidelined to see new ethylene contracts.
Regarding the April ethylene settlements, a buyer commented, “We heard about expected increases of €20-30/ton in the ethylene contracts and we hope to pay only the ethylene hikes on PE prices in April unlike the past few months as producers have already achieved larger hikes this month and boosted their margins.”
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