The May contract price for ethylene in Europe was agreed down by EUR5/tonne from April. However, many European producers raised export PE prices by EUR10-20/tonne for the CIS countries, particularly, for low density polyethylene (LDPE) and linear low density polyethylene (LLDPE), while export quotas were slashed several times.

 

Negotiations over May European PE prices for the CIS markets began this week. Many market participants saisd they had managed to maintain April prices of high density polyethylene (HDPE) for May. Deals were negotiated in the range of EUR1,120-1,180/tonne FCA.

 

Deals for May LDPE shipments were negotiated in the range of EUR1,240-1,300/tonne FCA, up by an average of EUR10-20/tonne from April. LLDPE prices also rose by EUR20/tonne.

 

In general, May export quotas of many producers were significantly reduced. Market participants said they had managed to meet their May requirements for European PE by 80% maximum. Some producers have already completed all their deals for May.