The November contract price of ethylene in Europe was agreed at the level of October. Nevertheless, European producers of polyethylene (PE) went on reducing PE export prices to EUR60 per tonne for supplies in November to CIS markets, according to the ICIS-MRC Price Review.

Negotiations on the November prices of European PE for deliveries to CIS markets started at the end of last week. Many participants in the talks stated that in the majority of the manufacturers from Europe went on reducing the export prices of polyethylene contrary to the stability of the monomer. Only in some cases the producers went to the prolongation of the October prices.

Deals for the November shipment of low-pressure polyethylene (HDPE) were discussed in the range of EUR940-1,050 per tonne, FCA, while the October deals were in the range of EUR1,000-1,110 per tonne, FCA. It should be noted that even in the second half of October, individual producers seriously reduced prices for sinks, prices reached the level of EUR930-980 per tonne, FCA.

Transactions for shipment of black PE 100 were in the range EUR1 250-1 270 per tonne, FCA, which actually corresponds to the October price level.

Transactions regarding the November shipments of high-pressure polyethylene (LDPE) were discussed in the EUR1 070-1 180 per tonne range, FCA, while the month before was in the EUR1 130-1 180 per tonne FCA range.