EU polyethylene imports from Iran in Q1-2016 rises 254% year on year

EU imports of polyethylene from Iran in Q1 rose 254% year on year to 42,494 mt, as per Eurostat data. As per Platts, these imports may continue to rise as restrictions on dollar transfers in Iran combined with the relative straightforwardness of euro trade with the country may be prompting Iran to start looking at petrochemicals trade with Europe, industry sources have said. Iranian petrochemical producers are slowly trying to develop a logistics network in Europe and, also, many Middle East traders have become interested in shipping petrochemicals to Europe.
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