European
Recycled PET: The Spot Prices Rise Despite Low Demand Outlook-  Market
sentiment is subdued-  Producer
margins are under increasing pressureEuropean
LDPE saw stronger indications to lift spot prices, but sentiment remained
subdued due to a perception that there was weak demand for the week ending Nov.
9. This was despite virgin spot price falling Eur50/mt during the
week. This demonstrated the continuing weak demand for plastic resin, as
well as the impact of inflation and recessionary pressures. A recycled
distributor stated, "It appears that virgin prices are at their lowest
point and suppliers are pushing for increases." But, Europe's demand
is still flat. According to market sources, the November industry-settled
European Ethylene contract price settled Eur35 more than the October price of
Eur1,295/mt Nov. 4. The settlement was delayed due to diverging pricing
expectations of buyers...