The spot prices of black low-pressure polyethylene pipe (PE 100) fell this week in the Gulf markets (GCC) amid a surplus supply and low demand in the region, ICIS sources told the market.
So, last week quotations of black PE 100 were in the range of USD1,620-1,680 per tonne, CFR GCC, i.е. at the same level as a week earlier.
The supply of Middle Eastern material turned out to be excessive due to stagnation in China’s key import market due to a pause in the implementation of projects where pipes are used.
Meanwhile, the countries of the Middle East are in the midst of the summer season, which impedes infrastructure construction work.
Suppliers in the region announced price offers for July deliveries at USD1,600-1,650 per tonne, DEL GCC, equivalent to USD1,580-1,630 per tonne, CFR GCC.
The deals were concluded at the level of USD1 580-1 600 per ton, DEL GCC, which is equivalent to USD1 560-1 580 per ton, CFR GCC.
According to the Price Review of ICIS-MRC, in Russia in the contract market, local companies stated that they had to accept the increase in prices of the HDPE, but not in all positions. The most expensive is the pipe PE, the growth was 5 thousand rubles. per ton. In the spot last week there was a surge in demand and a serious increase in prices.