Upward momentum in PE confirmed on higher ethylene in Europe
In Italy, a film manufacturer reported that they strictly limited their purchases recently and they did not conclude any deals this month, citing their low end product demand as the main reason behind their decision. The buyer said, “Our end sales are so stagnant that our customers were bidding for lower prices with respect to December price lists. Therefore, we preferred to use our existing stocks for January.”
Another manufacturer reported that he does not have high stocks and therefore producers might see better demand in February.
A distributor from Germany reported achieving increases of around €40-50/ton on January PE deals and added, “For February, our sell ideas suggest another round of €40-50/ton increases.”
In Italy, PE prices are quoted at €1270-1340/ton for LDPE, at €1180-1230/ton for LLDPE and at €1210-1300/ton for HDPE film and b/m on local terms.
Meanwhile, limited material availability as a result of reduced import volumes into Europe is considered as another factor paving the way for expectations of higher prices.
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