The demand for German HDPE was dull during initial two weeks of January ****. The decline and slowdown in orders鈥俧rom converters of packaging and consumer goods. Rigid food packaging remained fairly stable, but automotive fuel-tank and construction pipe applications couldn鈥檛 make any impact on HPDE stockpiling. Downstream producers of flexible plastic bags curtailed buying in view of intensified scrutiny of single-use plastics and slower migration to high-recycled-content substitutes.
Initially HDPE supply was still broadly balanced, Nord European producers having shown some degree of firmness on their offers, but only limited bookings on鈥俢ontractual basis. Plenty of鈥侻iddle East and U.S. cargos were flooding the arbitrage, limiting FD offers. German鈥俻orts discharged as usual, and Rhine barge traffic was not disrupted by the low-water situation. In the third week, HDPE supply became dramatically tighter due to planned cracker turnarounds and the halting of crude processing...
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