SABIC Europe to increase January polyethylene prices in Europe
December 18, 2007
SABIC Europe announced today that it will increase prices in Europe by €100 per ton for all of its HDPE, LDPE and LLDPE products, effective January 1st 2008.
"In Europe, market fundamentals remain very healthy, polymer demand is very strong and supply is rather tight," says Huub Meessen, Business Unit Director LDPE/LLDPE. "This situation is going to continue for the foreseeable future, resulting in new price records for PE in 2008. As the market outlook remains very positive, it is crucial that the resin cost increases are passed further down the value chain."
"In the current climate, polymers will see continued upward price pressure," confirms Dieter Hollmann, Business Unit Director HDPE. "Looking at oil price developments and an increasing competition for ethylene from all derivatives, the value chain needs to prepare for a prolonged period of structurally higher polymer prices. For 2008, we expect no structural changes of the market, which will remain balanced to tight."