Spot prices of high-pressure polyethylene (LDPE) in Europe fell in November to the lowest level in the last four months, starting in July, ICIS sources told the market.

Price proposals at the level of EUR1,150 per tonne, FD NWE (North-Western Europe), were no longer surprising for anyone in the market, the material was offered at this price level by some European suppliers to all comers.

The declining price trend in the polyethylene (PE) market in November runs counter to the upward price trend for raw materials, as quotations of naphtha and crude oil are rising.

According to the Price Review of ICIS-MRC, in the Russian market the excess supply continues to have a serious impact on the prices of LDPE. Sellers continue to gradually reduce prices in order to activate demand from buyers. Good demand remains in the segment of the 108th LDPE, but it, despite a good demand, is rapidly becoming cheaper.