West European PE players eye lower prices for February
In Belgium, a distributor concluded some January deals with decreases of €100/ton. The distributor commented that he expects PE prices to decline further in February ahead of a possible stabilization in March and added that he expects to see good demand as buyers are keeping low stocks. Another distributor, who sold locally-held Middle Eastern cargoes €100/ton below last month, said that he expects PE prices to reach the bottom in February before stabilizing in the upcoming months.
A converter in Germany settled his January gentlemen’s agreements with decreases of €100-120/ton. According to the buyer, PE prices might stabilize in the March-April period depending on upstream costs and demand.
Spot PE prices for late January are at €1090-1170/ton for LDPE, at €1120-1180/ton for LLDPE and at €1070-1170/ton for HDPE FD, 60 days.
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