Demand for low-pressure polyethylene (HDPE) in Europe remains stable, while sellers are sending volumes to Asia, where prices are higher, ICIS reports citing market participants.

The demand for black HDPE from export markets is very high. So, the price for black pipe PE 100 in China at the end of last week reached USD1,670 per tonne, and demand is expected to remain high.

Sources say that some of the IPA production in Europe switched to the production of pipe stamps against the backdrop of rising prices. Blowed HDPE is sold below EUR1,100 per tonne, FD NWE (north-western Europe). The February contract price of ethylene was agreed at the level of EUR1,077 per tonne, FD NWE.

Earlier it was reported that the price offers for polyethylene (PE) pipe marks on the terms of CFR supply to China at the end of last week overcame the mark of USD1,600 per ton and reached the level of USD1,650-1,700 per ton, which is the highest level for the last three years .

According to the ICIS-MRC Price Review, the Russian HDPE market is relatively balanced, with the exception of pipe PE. Demand for pipe polyethylene in Russia during January was quite low, many sellers reported large stocks of raw materials. In February, the situation with demand in this segment is unlikely to improve.