Low Density Polyethylene : Europe

摘要

The European ethylene contract price for April fully settled at Eur1,345/mt FD, an increase of Eur40/mt month on month. The increase came despite softening ethylene spot price levels, which were largely caused by an increase in naphtha during the month that dented steam cracker margins, rather than derivative demand. So far in March, feedstock naphtha in Europe has averaged at around $1,071/mt CIF NWE, up 4.3% on February; in euro terms, it has averaged around Eur811/mt during March, up 4.6% on the previous month. In the LDPE spot market, demand was thin as converters adopted a cautious stance, unwilling to be stuck with high-cost inventories. Upcoming Easter holidays also hit buying, sources added. Offers were heard at Eur1,380-1,440/mt FD NWE.