South America offers to sell linear low density polyethylene are dragging on prices for standard C4 grade LLDPE in Europe, source said this week.
LLDPE prices were assessed at Eur1,180/mt ($1,304) FD NWE Wednesday last week. LLDPE offers were heard at Eur1,150-1,200/mt FD NWE Wednesday, the most competitive being from Brazil.
Sources said LLDPE C4 prices will shrug off the increase in feedstock price for November amid plentiful availability. The NWE Ethylene contract price for November settled Friday up Eur30/mt on the month to Eur970/mt FD NWE.
PE imports to the European Union have risen this year. According to the last released Eurostat data, in the first eight months of the year, the EU 28 imported 2.2 million mt of PE, up 31% on the year. August imports from Brazil were at 16,511 mt of LLDPE, almost double those in August 2015. In the first eight months of the year, the EU 28 imported 71,000 mt of LLDPE, up 25% on the year.
