NWE polyolefin spot prices slide on naphtha fall, seasonal lull

Chemical News: NWE polyolefin spot prices slide on naphtha fall, seasonal lull

http://www.chemnet.com Dec 19,2014 Platts
European, polyethylene, polypropylene and polyvinyl chloride prices fell as buying slowed with the seasonal lull and expected January decrease in feedstock ethylene and propylene, sources said.

PVC spot prices were assessed at Eur700/mt ($826) FD NWE Wednesday, down Eur10/mt on the week, This represented a three years low for the polymer.

European polypropylene spot prices slid Eur10/mt to Eur1,130/mt FD NWE for homopolymer and Eur1,180/mt FD NWE for copolymer, new 19-month lows.

European low density polyethylene spot prices fell to Eur1,210/mt on Tuesday, a low since 14 May, 2013.

Converters in Europe and in export regions like Turkey, took to the sidelines on risk aversion due to the feedstock slide.

Ethylene December contract price settled at Eur1,010/mt FD NWE, down Eur50/mt on the month on November 28.

Propylene December CP settled on the same day at Eur955/mt FD NWE, down Eur60/mt on the month.

Since then naphtha has fallen by about 20%, assessed on Wednesday at $466.25/mt CIF NWE.

Sources said the market is awash with talk of January contract price decreases running to three figures.

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