Purchasing activity in the spot market of polyethylene (PE) in Europe is very low in October, with some traders reduced spot quotations to stimulate sales, according to ICIS, citing sources in the market.

According to traders, they are literally fighting for customers and are actively seeking new markets for sales.

Discounts on the sale of PE at the end of the year typically have a large impact on spot sales, processors strive to achieve significant discounts from the manufacturers in the previously agreed volumes.

Several manufacturers also mark a disappointing demand in October.

Spot sales of PE in Europe weak, despite the rise in prices of raw materials. Thus, the price of naphtha was at the level of October USD444-445 15 per tonne, CIF NWE (northwest Europe), but the majority of buyers of PE is not worried, despite the expectation of higher ethylene prices in November.

As reported earlier MRC, ethylene contract price in October in Europe was finally agreed at the level of EUR940 per ton, which is higher than the previous month EUR15 quotations.

Spot prices of low density polyethylene (LDPE) in Europe were themselves high, while the price of metallocene linear low density polyethylene (MLPNP) and polyethylene pipe (HDPE) are the lowest.

According to the price review ICIS-MRC, in Russia last week marked a little burst of buying activity in the PE market. At the same time, demand growth was only in the JHA sector. Demand for HDPE is still very low, and a simple multiple proceedings did not affect the situation on the market.
At the end of the week there was a decrease in prices of HDPE, LDPE whereas for the production of thick films rose. LDL prices remained unchanged last week.