Low Density Polyethylene Europe

摘要

The European low density polyethylene market was waiting on the September ethylene contract price settlement for price direction ideas, sources said. Reduced naphtha costs prompted a bearish outlook - a rollover to a decrease - for the September ethylene CP, buyers said. Some producers still saw modest increases on the cards. Naphtha has so far averaged at Eur652/mt ($932/mt), a decrease of Eur34/mt ($49/mt)on July. Demand in the European LDPE market remained sluggish, "compounded" by falling prices in Asia and the summer holiday period, sources added. While LDPE buyers remained on the sidelines due to the choppy energy and equity market, LDPE sellers refused to lower offers, maintaining that "inventories were managed." Traders and distributors said that some FCA prices from producers were in the high Eur1,100/mt's FD NWE and, as such, they were holding offers.