European buyers of polyethylene (PE) are not in a hurry to make purchases in December, despite the rise in contract prices for ethylene this month and attempts by sellers to raise prices, ICIS reports citing participants in the market.

The level of upward pressure depended on the type of PE and seller, but in some regions it was already clear that large producers are ready to keep the November prices, again without taking into account the difference between the prices of ethylene and polyethylene.

The demand was characterized by one producer as adequate, and the other one said that it was better than in November, but prices did not increase.

Some buyers have enough stocks to be able to not buy this month. The market does not observe preliminary January purchases, despite some expectation that producers will start increasing prices again next month.

Currently, imports in Europe are not so widely available, as prices in the region are low relative to other world markets.

Earlier it was reported that the December contract price of ethylene in Europe was agreed at EUR 32 per tonne higher than the level of November. Nevertheless, European producers of polyethylene (PE), for the most part, did not go to reduce PE export prices for supplies to CIS markets in December