Small hike attemps surface in the European PE market
Initial PE prices, however, have surfaced indicating small increases in accordance with the ethylene hike this week while flat offers are also available in a few cases.
A South European producer announced increases of €15/ton on their October PE contracts in line with higher ethylene contracts after closing their September deals with rollovers from August.
A distributor in Belgium reported lifting his October prices by €20/ton from last month for locally-held Middle Eastern LDPE film and stated that his stocks are quite low for the month. Another distributor in the Netherlands, however, elected to rollover his PE prices from September for West European LDPE and locally-held Middle Eastern LLDPE and HDPE. The seller noted that his stocks are in line with last month, still a bit short for certain LDPE and LLDPE grades.
In Italy, some buyers were cautious at the end of last week as they had been anticipating decreases for October, pointing to slow demand. Meanwhile, another converter had reported that he had been projecting rollovers to small increases considering higher ethylene contracts. This week, a distributor reported giving offers for South European LDPE with increases of €10/ton in line with his supplier’s pricing strategy while he is yet to receive guidelines from his West European supplier.
A packaging producer reported receiving some initial October PE offers at stable levels from September in the spot market. The buyer was also offered import Iranian and Middle Eastern PE at competitive levels while he stated that his end product demand is slow and he is yet to place orders.
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