Trading activities revive for PE in West Europe
Spot PE prices are at €1050-1100/ton for LDPE, at €1075-1105/ton for LLDPE and at €1050-1105/ton for HDPE FD, 60 days. The overall ranges are down by €40-50/ton on the low ends whereas the high ends have posted relatively larger decreases.
A distributor in Germany reported lowering his LDPE prices by €60/ton for February while issuing smaller discounts of €40-45/ton for HDPE and LLDPE. “There are less imports to Europe and we already received some orders as buyers avoided building stocks in January,” he commented. Another distributor sold South European cargoes with decreases of €60-70/ton for LDPE and €50/ton for HDPE and LLDPE. For March, the distributor is projecting mainly rollovers given higher crude oil and firmer spot naphtha costs.
More buyers are expected to return to the market in the days ahead due to their low stocks and anticipations of a shift in trend for March given the recent gains in crude oil and spot naphtha costs. Spot naphtha prices are up by almost $70/ton on the week to be quoted at $480/ton CIF ARA. For ethylene, spot prices also inched up over the past week to reach €720/ton FD NWE.
Meanwhile, a distributor thinks that his regular West European supplier might aim for slight increases of €20/ton in March in order to obtain rollovers after failing to procure material from his supplier this month due to short supply.
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