Tight domestic supply compel European HDPE injection grade converters to source from Asia

European high density polyethylene injection grade converters are sourcing from Asia prompted by tight domestic supply, as per Platts. HDPE injection grade spot levels in Asia closed Wednesday at US$1345/mt CFR FE Asia. European spot levels last week closed at Eur 1340-1345/mt (US$1902-1909/mt) FD NWE. A Malaysian producer reported moving a cargo to France at US$1540/mt FOB Malaysia, which was $60/mt higher than its April shipment offer to Asia. "The prices are much better elsewhere in the world right now, and we managed to move cargoes to an end-user in France," he said. Indian volumes were heard at Eur 1130/mt CFR Portugal, while a Turkish source added that he received offers from Asia at US$1390/mt FOB China. The European injection market remained tight as production issues continued to plague local producers. Most European producers reported being sold out for March.
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