Prices for low-pressure polyethylene (HDPE) in Europe in January remained at the level of December against the backdrop of a balanced market, ICIS reports citing sources in the market.

Supplies of some brands of tubular HDPE were limited. Demand is supported by rising prices in Asia and growth in Europe.

According to sources, spot supplies also remained limited, as sellers are not eager to sell their small volumes cheaply.

Spot prices of ethylene raw materials in January rose, which leads to expectations of price increases in February.

Earlier it was reported that the contract price of ethylene in Europe for January supplies was finally agreed at the level of EUR1,057 per ton, remaining thus at the level of December.

According to the Price Review of ICIS-MRC, in December, the release of HDPE in Russia increased to 73.7 thousand tons, while this indicator did not exceed 63.7 thousand tons a month earlier. In general, following the results of the previous year, the total output of the HDPE reached the level of 898 thousand tons against 1 million tons a year earlier.