The June contract price of ethylene in Europe was agreed at EUR63 per tonne higher than the level of May. Nevertheless, European producers went for a more substantial increase in the export prices of certain types of polyethylene (PE) for June supplies to the CIS countries than the increase in the price of the monomer, according to the Price Review of the ICIS-MRC.

Negotiations on the June supply of PE from Europe to the markets of the CIS countries started on Monday. But a serious increase in the cost of ethylene in the region resulted in a proportional increase in export prices for low-density polyethylene (HDPE) for CIS customers, whereas in the high-density polyethylene segment (LDPE), the price increase is half the value of the ethylene price increase.

Negotiations for June shipments of HDPE were conducted in the range EUR1 080-1 153 per tonne, FCA, which is EUR63-80 per ton higher than the May price level. Restrictions on the supply are available to those manufacturers who are planning a stop for prevention in the near future.

The prices of black PE100 also increased and were discussed in the range EUR1 360 -1 415 per tonne, FCA. Most manufacturers retain serious export restrictions since May, and not all companies have been able to close their needs in full.

Transactions for June shipments of the European LDPE were agreed in the range EUR1 080-1,150 per tonne, FCA, which is an average of EUR30 per ton higher than the May level.