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High density polyethylene (HDPE) prices journey southward in Europe

28 Apr 2023 14:00 IST
This week, HDPE prices down adjusted in the European region.

A European industry source while requesting to remain unidentified informed a Polymerupdate team member, “Limited buying activity prompted by a weak demand sentiment proved to be a significant factor in triggering the price decline. Prices fell further as a result of an oversupply situation exacerbated by excess import cargoes from Middle Eastern suppliers.”

The source added, “Producers have reduced output rates at their facilities due to persistently pessimistic demand sentiments and uncertain market conditions, which could prove to be crucial in balancing the mismatched demand-supply fundamentals in the market.”

In the spot markets, HDPE film grade prices were assessed at the Euro 1225-1235/mt FD North West Europe levels, a fall of Euro (-15/mt) from last week. Meanwhile, HDPE BM grade prices were assessed at the Euro 1215-1225/mt FD North West Europe levels, a week on week decline by Euro (-30/mt) while HDPE injection grade prices were assessed at the Euro 1175-1185/mt FD North West Europe Levels, a decrease of Euro (-15/mt) from the previous week.

In the contract markets, HDPE film grade prices were assessed at the Euro 1600-1605/mt FD Northwest Europe and FD Italy levels while HDPE BM grade prices were assessed at the Euro 1565-1570/mt FD Northwest Europe and FD Italy mark, both week on week down Euro (-30/mt). Meanwhile, HDPE injection grade prices were assessed at the Euro 1550-1555/mt FD Northwest Europe and FD Italy levels, lower by Euro (-30/mt) from the previous week.

FCA Antwerp HDPE film prices were assessed at the Euro 1210-1250/mt levels, a week on week fall of Euro (-20/mt). Meanwhile FCA Antwerp HDPE BM prices were assessed at the Euro 1200-1240/mt levels, a sharp drop of Euro (-40/mt) from last week. FCA Antwerp HDPE injection prices were assessed at the Euro 1160-1210/mt levels, a week on week fall of Euro (-20/mt).

Ethylene spot prices on Thursday were assessed at the Euro 885-895/mt FD North West Europe levels, a marginal fall of Euro (-5/mt) from the previous week.

Feedstock ethylene contract price for April 2023 settled at the Euro 1250/MT FD North West Europe levels. This price represents a fall of Euro 40/MT from its March 2023 settlement levels.