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

25-Mar-11
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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