PE converters in Europe seek reductions in Nov contract prices in line with falling ethylene

European polyethylene converters are seeking a reduction in contract price for November, in line with a fall in the feedstock ethylene, as per Platts. Falling by twenty dollars, ethylene CP fully settled last week at €1095/mt (US$1510/mt) FD NWE, on the back on softer naphtha costs and a slow ethylene-derivative offtake. Producers, on the other hand, were looking to defend increases or atleast a rollover to a maximum €20/mt decrease for all PE. Converters expect "special deals" to continue, as producers attempt to bring down stock levels before December.
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