Buyers of polyethylene (PE) in Europe do not accept the price increase above quotations of the main raw material of growth values ​​- ethylene, ICIS reported, citing sources in the market.

The contract price of ethylene in Europe for February delivery was agreed at the level of EUR1 020 per tonne, up EUR35 higher than the previous month. This is the highest price level since August 2015.

Several manufacturers PE intend to improve margins in February, which decreased significantly in the second half of 2016, but buyers are resisting this. According to them, there is no reason to increase the growth of PE prices higher than the growth of the monomer values ​​as the market balanced.

At the same time sellers say a very high demand for February, while the volume of imports is significantly lower than in the second half of 2016. According to some sellers, they were able to raise prices for EUR80-85 per tonne.