A European market source while asking for to stay unknown notified a Polymerupdate staff member, “Limited buying activity prompted by a weak demand sentiment proved to be a significant factor in triggering the price decline. Prices fell further as a result of an oversupply situation exacerbated by excess import cargoes from Middle Eastern suppliers.”
The source included, “Producers have reduced output rates at their facilities due to persistently pessimistic demand sentiments and uncertain market conditions, which could prove to be crucial in balancing the mismatched demand-supply fundamentals in the market.”
In the area markets, HDPE movie grade rates were examined at the Euro 1225-1235/mt FD North West Europe levels, a fall of Euro (-15/mt) from recently. Meanwhile, HDPE BM grade rates were examined at the Euro 1215-1225/mt FD North West Europe levels, a week on week decrease by Euro (-30/mt) while HDPE injection grade rates were examined at the Euro 1175-1185/mt FD North West Europe Levels, a decline of Euro (-15/mt) from the previous week.
In the agreement markets, HDPE movie grade rates were examined at the Euro 1600-1605/mt FD Northwest Europe and FD Italy levels while HDPE BM grade rates were examined at the Euro 1565-1570/mt FD Northwest Europe and FD Italy mark, both week on week down Euro (-30/mt). Meanwhile, HDPE injection grade rates were examined at the Euro 1550-1555/mt FD Northwest Europe and FD Italy levels, lower by Euro (-30/mt) from the previous week.
FCA Antwerp HDPE movie rates were examined at the Euro 1210-1250/mt levels, a week on week fall of Euro (-20/mt). Meanwhile FCA Antwerp HDPE BM rates were examined at the Euro 1200-1240/mt levels, a sharp drop of Euro (-40/mt) from recently. FCA Antwerp HDPE injection rates were examined at the Euro 1160-1210/mt levels, a week on week fall of Euro (-20/mt).
Ethylene area rates on Thursday were examined at the Euro 885-895/mt FD North West Europe levels, a limited fall of Euro (-5/mt) from the previous week.
Feedstock ethylene agreement cost for April 2023 settled at the Euro 1250/MT FD North West Europe levels. This cost represents a fall of Euro 40/MT from its March 2023 settlement levels.
