MOSCOW (MRC)–The European ethylene contract for July was agreed at €50/tonne below the level of June but European polyethylene (PE) producers reduced their export prices more significantly than that, according to ICIS-MRC Price Report.
Negotiations over export prices of European PE to be shipped to the CIS (commonwealth of independent states) markets began last week. Many negotiators said most European producers had substantially reduced their export PE prices. In some cases, the price decrease reached €70/tonne from May.
Deals for July shipments of high density polyethylene (HDPE) were discussed in the range of €950-1,030/tonne FCA (free carrier), whereas last month’s deals were done in the range of €1,000-1,100/tonne FCA. Some companies reported that they have achieved prices at the level of €920/tonne FCA, but this was more likely an exception.
July deals for low density polyethylene (LDPE) were negotiated in the range of €1,080 – 1,150/tonne FCA, whereas last month’s deals were done in the range of €1,130 – 1,210/tonne FCA.
MRC, a partner of ICIS, produces polymers news and pricing reports from Russia, Ukraine, Belarus, Uzbekistan and Kazakhstan.