The December contract price of ethylene in Europe was agreed at EUR30 per tonne below the November level. European producer of polyethylene (PE) went to reduce export prices by EUR20 per tonne and above, according to a price review ICIS-MRC.

Negotiations on the European export prices of PE began late last week and continued this week. Many negotiators have concluded that all manufacturers from Europe went to the decrease in export polyethylene prices. Prices have been adjusted to EUR20 per ton or more. At the same time, most manufacturers have serious restrictions on exports in the current month.

Transactions for December shipment of high density polyethylene (HDPE) are discussed in the range of EUR1 045-1 160 per tonne, FCA, while the previous month deals were in the range of EUR1 090-1 180 per tonne, FCA. Negotiations on the supply pipe of black PE100 are carried out in the range of EUR1 150- 1 190 per tonne FCA, that an average of EUR20 per tonne below the November level. According to participants in the negotiations, the producers from Hungary and the Czech Republic are still serious restrictions on exports in the current month due to production problems.

Transactions with respect to the December shipments of high-density polyethylene (LDPE) are discussed in the range of EUR1 160 – 1 230 per tonne, FCA, while the previous month deals were in the range of EUR1 190 – 1 250 per tonne, FCA. As in the case of HDPE, saved restrictions on the shipment of this month for a number of manufacturers. Also worth noting is that some manufacturers plan to begin shipping only in the third decade of the month.