Low prices of polyethylene (PE) in Europe this month may lead to an increase in its prices in January, according to ICIS, citing the opinion of market participants.

One major buyer said that the Europeans should not sell PE below import parity.

Quotations importers increased by the weakening of the euro against the US dollar.

European PE prices are currently lower than the Asian counterparts, in many cases, therefore, traditional importers are looking for more favorable markets.

Thus, the average price of Asian LLDPE (LDL) to EUR40 higher than the average price of European material.

According to one trader, he received an offer to the Asian LDL C4 to EUR1 250 per tonne level, DDP, including customs duty of 6.5%.

Last week, the lower price range was on the level of EUR1 080 per tonne, while market participants expect growth rates in the near future.

In general, in December, PE prices declined by EUR30 per tonne due to a decrease in quotations of the main raw material – ethylene.