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HDPE Northwestern Europe, € / t
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Basis
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Product
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22 Dec '22
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Change
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24 Nov '22
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Last month
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Jan '23*
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FD Northwestern Europe
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HDPE inj
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1250–1350
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≈
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1300–1350
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25
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80
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HDPE BM
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1300–1400
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≈
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1400–1450
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75
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80
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HDPE film
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1350–1400
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≈
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1380–1440
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35
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80
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LDPE Northwestern Europe, € / t
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FD NWE
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LDPE film
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1380–1450
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≈
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1420–1500
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45
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80
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LLDPE Northwestern Europe, € / t
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FD NWE
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LLDPE C4
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1240–1350
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≈
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1300–1400
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55
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80
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*Forecast
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Chem-Courier data
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The last working week of the year has been quiet in the European PE market. Business activity has been minimal in Northwestern, Southern and Central Europe. Although producers reduced production or closed for maintenance in Q4 2022 due to low demand, the polyethylene market has been oversupplied this month. PE prices have been unchanged this week. Injection, blow-moulding and film HDPE has been on offer at €1,250—1,350/t FD Northwestern Europe (NWE), €1,300—1,400/t FD NWE and €1,350—1,400/t FD NWE respectively. LDPE and LLDPE prices have been running at €1,380—1,450/t FD NWE and €1,240—1,350/t FD NWE.
To summarise the 2022 results, HDPE has been €240/t cheaper this month than in December 2021. As for LDPE and LLDPE, the polymers have been quoted €470/t and €330/t lower, respectively, than a year ago. The polyethylene margins have decreased year on year since ethylene contract prices have almost unchanged compared to prices in December 2021. HDPE, LDPE and LLDPE prices reached the lowest levels in December 2022.
European customers bought over 2.64 million t of PE for the first 10 months of 2022, which is 7% more than in the same period of last year. Saudi Arabia, the USA and Qatar were the largest supplier of the polymer to Europe. Although HDPE imports from Russia decreased by 19%, European players have bought over 93,000 tons of polymer in the first 10 months of 2022. However, PE exports from Europe to Russia have dropped by 64% for HDPE and 33% for LDPE/LLDPE. Total PE exports from Europe decreased by 16% to 1.34 million t. China and Turkiye have stayed the main export destinations.
Market players are expecting a decrease in polyethylene prices in January. Ethylene prices are expected to lose by €70—120/t next month since naphtha has dropped by $84/t month on month. European producers will lower their quotes next month, following a downtrend in ethylene contract prices. Buying activity will be low in early January and hardly improve in the middle of the month. PE supply will stay ample in H1 January. US polyethylene is expected to arrive in end-January.