Spot prices of low density polyethylene in Europe are growing, with increased ethylene contract prices in January at EUR45 per tonne, according to ICIS, citing sources in the market.

LDPE prices are among the highest in the quotations on the polyethylene. Many deals were about EUR50 per tonne higher than the level of December. According to a trader said, they do not offer material below EUR1 300 per tonne.

The prices of LDPE in the beginning of December were at EUR1 200 per tonne, FD NWY (northwest Europe), but the sellers no longer consider such proposals.

According to them, the supply of LDPE is not so significant, to offer material at this level.

Contract prices of LDPE have to be agreed this week, but the majority of market participants are confident in the growth of prices.

As reported earlier MRC, ethylene contract price for deliveries in Europe in January, has been completely agreed upon at the level of EUR985 per tonne, which is above the level of EUR45 in December.

According to the price review ICIS-MRC, in Russia on the spot LDPE market situation at the end of December remained unchanged. From the small individual producers maintained restrictions on the supply of HDPE on the market, but this in no way affected the market balance. Some processors did not form reserves for a period of long New Year holidays, and was going to return to the PE purchases after January 9th.