Frbiz.com Reported European Producers Approach With Large Pe Hikes To Italy
Now that the Italian market is gradually coming back from the long year-end holidays
, a couple of major European producers have started to reveal their January prices to Italy with large price hikes although they have all agreed that the market activity has not been resumed yet. This is because buyers have extended their shutdowns, combining their year-end holidays with another one-day-holiday that will be celebrated in the middle of this week. They are expected to come back to their desks on January 7 or at even a later date of January 11.As for gentlemen,s agreements, a West European producer is offering LDPE film, HDPE film and blow moulding with 100/ton increases at 1090/ton FD North Italy, 60 days deferred payment. They pointed to their tight availability particularly for LDPE to justify their price hike target. A company source added that they might have difficulties in meeting their customers, request even if they see usual demand this month.
A trader reported to have received an LDPE offer from the same producer on spot basis with a similar size of increase at 1020-1030/ton FD North Italy, cash payment although he does not expect the real increases to be more than 80/ton. A different West European producer is also seeking 100/ton increases this month in the spot market with his offers at 1040-1050/ton for HDPE injection and 1070-1080/ton for HDPE blow moulding FD North Italy, 60 days deferred payment.
A South European producer has also started to give official spot offers for January with the same amount of increase at 1070/ton for LDPE film and 1080/ton for HDPE film with the same terms. Although supplies are limited, demand is not expected to be great this month due to the pre-buying made in December. Therefore, the real size of the increase might be smaller than what they are currently asking, he commented.
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