SABIC Europe to increase September polyolefins prices in Europe
"European and Asian PE markets have tightened considerably during the last two months," says Huub Meessen, Business Unit Director LDPE/LLDPE. Demand surged whereas supply has been hampered by some unplanned shutdowns. Industry stocks are low and are expected to stay low as the maintenance season is due to start soon" Huub continues"Prices in Asia are currently substantially higher than in Europe, which means that we do not foresee any pressure coming from low priced imports in the next few months."
"In the current climate polymer price increases are unavoidable. Higher energy prices have had a marked effect on polyolefins prices and integrated polyolefins players are not making a satisfactory return on capital. Therefore further increases are to be expected after September," says Jo Mastenbroek, Business Unit Director HDPE. "To avoid pre buying and to manage the current low stock levels, price increases will come into effect on all new orders as from 25th August onwards."
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