Low density polyethylene spot prices Wednesday fell to their lowest level since April, following bearish price expectations for feedstocks.
LDPE prices were assessed Wednesday at Eur1,500/mt ($1,650), down Eur20/mt from Tuesday.
Bearish feedstock price developments stemmed from the increase in supply, largely due to the restart of Shell’s 900,000 mt/year Moerdijk cracker.
The cracker was back in operation last Thursday, following a steam leak in the plant’s utilities systems that led Shell to shut its petrochemical units at Moerdijk on October 2.
The return of upstream supply had a bearish impact on downstream polyethylene prices, with one trader saying market participants did not want to buy and that what buying did take place was hand to mouth.
