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Monday, May 23, 2022

Low density polyethylene prices fall to lowest level since April

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.

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